Question

Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day...

Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.)

30-day billing cycle
9/16 Billing date Previous balance $ 3,300
9/19 Payment $ 73 cr.
9/30 Charge: Home Depot 2,150
10/3 Payment 73 cr.
10/7 Cash advance 83



Finance charge is 1.25% on average daily balance.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day...
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16   Billing date Previous balance $ 1,400    9/19   Payment $    54 cr. 9/30   Charge: Home Depot 1,200     10/3   Payment     54 cr. 10/7   Cash advance     64      Finance charge is 1.25% on average daily balance.   Average daily balance $   Finance charge $
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day...
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing date Previous balance $ 3,000 9/19 Payment $ 70 cr. 9/30 Charge: Home Depot 2,000 10/3 Payment 70 cr. 10/7 Cash advance 80 Finance charge is 1.25% on average daily balance. Average daily balance- Finance charge-
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day...
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing Date $3100 9/19 Payment $ 71 cr. 9/30 Charge: Home depot 2050 10/3 Payment 71 cr 10/7 Cash Advance 81 Finance charge 1% on average daily balance 1- average daily balance: 2- Finance charge:
Calculate average daily balance and finance charge (29-day billing cycle beginning on 9/4) given: Finance charge...
Calculate average daily balance and finance charge (29-day billing cycle beginning on 9/4) given: Finance charge is 2% of average daily balance 9/4       Balance        $500 9/13     Payment       20 9/19     Charge          100 Ave daily balance                   Total finance charge:
What is the average billing daily balance and finance charge (APR 15%) for the revolving credit...
What is the average billing daily balance and finance charge (APR 15%) for the revolving credit account (assume a 30 day billing cycle)? Billing            Previous         Payment             Payment               New Charge       New Charge Date               Balance          Date                   Amount               Date                   Amount 4/15                $335.50          4/20                    $33.55                                                                                                      4/25                    $12.50                                                                                                      4/26                    $108 Ave daily balance: Finance Charge:
The credit card with the transactions described on the right uses the average daily balance method...
The credit card with the transactions described on the right uses the average daily balance method to calculate interest. The monthly interest rate is 2.5% of the average daily balance. Calculate parts a-d using the statement on the right. statement: Transaction description Transaction amount Previous Balance $6210.00 March 1 Billing date March 5 payment $400.00 credit march 7 charge: Restaurant $50.00 March 12 charge: Groceries $70.00 March 21 charge: car repairs 280.00 March 31 End of billing period Payment Due...
The unpaid balance at the start of a​ 30-day billing cycle was ​$721.98. A purchase of...
The unpaid balance at the start of a​ 30-day billing cycle was ​$721.98. A purchase of ​$41.45 was made on day 14. No payment was made during the billing cycle and a late fee of ​$42 was charged to the account on day 27. Find the unpaid balance at the end of the billing cycle. Assume that the annual interest rate on a credit card is 19.44​% and interest is calculated by the average daily balance method. The unpaid balance...
You had recently received your credit card statement and wish to be sure the finance charge...
You had recently received your credit card statement and wish to be sure the finance charge for the billing cycle is correct. The statement indicated a beginning balance of $600. On day 5 a charge of $150 had posted to the account, on day 12 a charge of $300 posted to the account. On day 15 you had made a payment of $200. Use the below table to calculate the average daily balance and the finance charge, assuming the interest...
Round to the nearest cent. The unpaid balance in an account on December 1 was $103....
Round to the nearest cent. The unpaid balance in an account on December 1 was $103. A payment of $55 was made on December 16. The interest rate per month was 1.75% per month of the average daily balance. Find the finance charge for the month of December. Select one: a. $2.64 b. $1.21 c. $1.31 d. $0.84
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days...
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $400 balance, 14%, $50 payment (a) previous balance method (b) adjusted balance method (c) average daily balance method
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT