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Author Question: Bill Hopen has a Bank Card revolving credit account with a 18 annual percentage rate. The billing ... (Read 111 times)

clmills979

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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?


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kbennett34

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

776.96

Answer to Question 2

800


clmills979

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

jomama

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

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