Find the unpaid balance at the end of the month for the account. The finance rate is 1.6% on the unpaid balance. Round to the nearest cent. Unpaid Balance at Finance Month Beginning Charge Purchases Returns Payment Jan $781.40 $330.83 $21.37 $255.00 A. $891.10 B. $869.73 C. $66.96 D. $848.36
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Use the unpaid balance method to find the finance charge. The transactions are given below: Last month's balance: $630 Payment: $250 Interest rate: 16.7% Bought dog: $130 Bought pet supplies: $85 Paid veterinarian bill: $85 The finance charge (Round to the nearest cent if needed).
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For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.6% per month on the average daily balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing. Previous Balance: $775.84 July 6 Billing Date July 14 Payment $200 July 25 Lunch $45.66 August 3 Concert tickets $78.62 (a) The average daily balance is $ . (Round to the nearest cent as needed.) (b) The finance charge is $ . (Round to the nearest cent as needed.) (c) The account balance for the next billing is $ . (Round to the nearest cent as needed.)
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Use the unpaid balance method to find the finance charge on the credit card account for August. The starting balance from the previous month is $280. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 24% on the account and that the billing date is August 1st. Date Transaction August 4 Made payment of $90 August 10 Charged $140 for hiking boots August 12 Charged $23 for gasoline August 28 Charged $28 for restaurant meal
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