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

Author Question: Bill Hopen has a Bank Card revolving credit account with a 18 annual percentage rate. The billing ... (Read 55 times)

clmills979

  • Hero Member
  • *****
  • Posts: 551
on: Jun 24, 2018
Bill Hopen has a Bank Card revolving credit account with a 18 annual percentage rate. The billing date is the first day of each month and the billing cycle is the number of days in that month. Bill's balance at the end of July was 728.15. The activity for the month was as follows: August 10, purchase of 136.19; August 15, payment of 292; August 23, purchase of 386.78. What was the average daily balance for August? (Round to the nearest cent)

Question 2

If the interest on a 6,500 loan is 520, what would be the interest on a loan of 10,000?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kbennett34

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 24, 2018
Answer to Question 1

776.96

Answer to Question 2

800


clmills979

  • Member
  • Posts: 551
Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

patma1981

  • Member
  • Posts: 292
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Increasing access to care for teen mothers is important because they have a higher rate of pregnancy ... Increasing access to care for teen mothers is important because they have a higher rate of pregnancy ...
Mel Chin, Operation Paydirt/Fundred Dollar Bill Project. Mel Chin, Operation Paydirt/Fundred Dollar Bill Project.
Example of a cycle billing schedule. Example of a cycle billing schedule.
What Percentage of U.S. Married Women Ages 40-44 Have Never Given Birth? What Percentage of U.S. Married Women Ages 40-44 Have Never Given Birth?
Average Annual Growth Rates of Population by Country Group Average Annual Growth Rates of Population by Country Group
Irene Manufacturing uses a predetermined overhead allocation rate based on a percentage of ... Irene Manufacturing uses a predetermined overhead allocation rate based on a percentage of ...
Video: Carbohydrate Metabolism: Introduction to renal processes and filtrate formation and composition

For a complete list of videos, visit our video library