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Author Question: Tara Fields' credit card company uses the previous balance method to calculate finance charges. It ... (Read 148 times)

DelorasTo

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on: Jun 24, 2018
Tara Fields' credit card company uses the previous balance method to calculate finance charges. It has an APR of 17 and uses a monthly periodic rate rounded to the nearest ten-thousandth. Tara's credit card statement for April showed a previous balance of 281.67, new purchases and fees of 112.93, and payments and credits of 200.00. What is Tara's finance charge for April and her new balance?

Question 2

Michael Lane checked his credit card statement and noticed a sale for 82.99 that was unauthorized. He also found that a sale for 52.87 had been listed as 58.27. If the new balance on his statement was 310.65, what is his correct new balance?


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sierramartinez

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Reply #1 on: Jun 24, 2018
Answer to Question 1

4.00, 198.60

Answer to Question 2

222.26


DelorasTo

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

cpetit11

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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