Challenge Yourself In Example 6 , we found that the average daily balance method gave the highest finance charges. Explain why this happened. Example 6 Comparing Methods for Finding Finance Charges Suppose that you begin the month of May (which has 31 days) with a credit card balance of $ 500 . The annual interest rate is 21 % . On May 11 , you use your credit card to pay for a $ 400 car repair, and on May 29 , you make a payment of $ 500 .Calculate the finance charge that will appear on the statement for next month using the two methods we have discussed.
Challenge Yourself In Example 6 , we found that the average daily balance method gave the highest finance charges. Explain why this happened. Example 6 Comparing Methods for Finding Finance Charges Suppose that you begin the month of May (which has 31 days) with a credit card balance of $ 500 . The annual interest rate is 21 % . On May 11 , you use your credit card to pay for a $ 400 car repair, and on May 29 , you make a payment of $ 500 .Calculate the finance charge that will appear on the statement for next month using the two methods we have discussed.
In Example 6, we found that the average daily balance method gave the highest finance charges. Explain why this happened.
Example 6 Comparing Methods for Finding Finance Charges
Suppose that you begin the month of May (which has 31 days) with a credit card balance of
$
500
. The annual interest rate is
21
%
. On May
11
, you use your credit card to pay for a
$
400
car repair, and on May
29
, you make a payment of
$
500
.Calculate the finance charge that will appear on the statement for next month using the two methods we have discussed.
During busy political seasons, many opinion polls are conducted. In apresidential race, how do you think the participants in polls are generally selected?Discuss any issues regarding simple random, stratified, systematic, cluster, andconvenience sampling in these polls. What about other types of polls, besides political?
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.
Discrete Distributions: Binomial, Poisson and Hypergeometric | Statistics for Data Science; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=lHhyy4JMigg;License: Standard Youtube License