You have a credit card that charges an interest rate of 1.8% compounded monthly. The table below shows your activity for the month of December. Date Activity Amount December 1 Beginning Balance 1327.24 December 9 Purchase 28.84 December 10 Payment −150 December 16 Purchase 97.76 December 22 Purchase 14.56 December 23 Purchase 54.47 December 31 Closing Date What is the statement balance due for December?
You have a credit card that charges an interest rate of 1.8% compounded monthly. The table below shows your activity for the month of December. Date Activity Amount December 1 Beginning Balance 1327.24 December 9 Purchase 28.84 December 10 Payment −150 December 16 Purchase 97.76 December 22 Purchase 14.56 December 23 Purchase 54.47 December 31 Closing Date What is the statement balance due for December?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You have a credit card that charges an interest rate of 1.8% compounded monthly. The table below shows your activity for the month of December.
Date Activity Amount
December 1 Beginning Balance 1327.24
December 9 Purchase 28.84
December 10 Payment −150
December 16 Purchase 97.76
December 22 Purchase 14.56
December 23 Purchase 54.47
December 31 Closing Date
What is the statement balance due for December?
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