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

Author Question: Tara Fields' credit card company uses the previous balance method to calculate finance charges. It ... (Read 154 times)

DelorasTo

  • Hero Member
  • *****
  • Posts: 548
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?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sierramartinez

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 24, 2018
Answer to Question 1

4.00, 198.60

Answer to Question 2

222.26


DelorasTo

  • Member
  • Posts: 548
Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

Dinolord

  • Member
  • Posts: 313
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Body Part, Method of Examination, and Equipment Used During the General Physical Examination Cont. Body Part, Method of Examination, and Equipment Used During the General Physical Examination Cont.
How to calculate monthly payments at varying amortization periods (Question 3) How to calculate monthly payments at varying amortization periods (Question 3)
Advantages of Observational Method Advantages of Observational Method
Delta method advice Delta method advice
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 ...
Use a graphical method to find the length of the loan to the nearest year Use a graphical method to find the length of the loan to the nearest year
Video: First Stage of Labor and Delivery Video

For a complete list of videos, visit our video library