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

Author Question: Alice Brontworth's credit card statement for November showed these items: 11/1, previous balance, ... (Read 113 times)

bobbysung

  • Hero Member
  • *****
  • Posts: 519
on: Jun 24, 2018
Alice Brontworth's credit card statement for November showed these items: 11/1, previous balance, 121.33; 11/7, purchase, 59.10; 11/11, purchase, 23.27; and 11/17, payment, 110.00. Alice's card company uses a 1.75 monthly periodic rate and the average daily balance method including purchases. What is Alice's finance charge for November and the new balance?

Question 2

Hernando Fuentes uses a credit card that has a 21.9 APR and uses the adjusted balance method to calculate finance charges. Hernando's statement listed these facts: previous balance, 579.47; new purchases, 229.13; late payment fee, 29.00; payments, 150.00; and credits, 76.39. If the credit card company uses a daily periodic rate, what is Hernando's finance charge and new balance on a 30-day billing cycle?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

asdfasdf

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 24, 2018
Answer to Question 1

2.32, 96.02

Answer to Question 2

6.36, 617.57


bobbysung

  • Member
  • Posts: 519
Reply 2 on: Jun 24, 2018
:D TYSM

kalskdjl1212

  • Member
  • Posts: 353
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Do you know how kangaroos balance their body Do you know how kangaroos balance their body
Johannes Vermeer, Woman Holding a Balance. Johannes Vermeer, Woman Holding a Balance.
Sample Medicare identification card. Sample Medicare identification card.
An orange-red biohazard symbol indicates that bloodborne pathogens may be present, and items should ... An orange-red biohazard symbol indicates that bloodborne pathogens may be present, and items should ...
How to calculate credit card interest when the interest is compounded How to calculate credit card interest when the interest is compounded
Helgeson Company has identified the following items for possible inclusion when taking a ... Helgeson Company has identified the following items for possible inclusion when taking a ...
Video: Exercise and cardiac output & Definition of stroke volume

For a complete list of videos, visit our video library