This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Fred has a credit card which uses the average daily balance method, has a 30-day billing period, a ... (Read 35 times)

arivle123

  • Hero Member
  • *****
  • Posts: 569
on: Nov 11, 2019
Fred has a credit card which uses the average daily balance method, has a 30-day billing period, a 21-day grace period and charges 21 percent annual interest calculated (but not compounded) daily. His average daily balance for the billing period was $7900, and he could not pay it off until received his pay cheque eight days after the statement due date. How much interest does he owe?
◦ $268.17
◦ $36.36
◦ $136.36
◦ $172.72
Personal Finance ¦ Madura, Gill ¦ 3rd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by arivle123 on Nov 11, 2019

fatboyy09

  • Sr. Member
  • ****
  • Posts: 358
Reply #1 on: Nov 11, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 49% of students answer this correctly


arivle123

  • Member
  • Posts: 569
Reply 2 on: Nov 11, 2019
Excellent

JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Palade's use of the pulse-chase method to study protein secretion Palade's use of the pulse-chase method to study protein secretion
Average optimal blood pressure for age Average optimal blood pressure for age
Selecting a Method for Measuring Body Temperature Selecting a Method for Measuring Body Temperature
Fluid Balance during Exercise Fluid Balance during Exercise
Daily pill containers like this one are often used by the elderly to remind them Daily pill containers like this one are often used by the elderly to remind them
Daily Variations in Temperature and Relative Humidity Daily Variations in Temperature and Relative Humidity
Video: Major Elements in Biological Molecules: Lipids

For a complete list of videos, visit our video library