Find the finance charge for the givevn charge account given in the table. Assume interest is calculated on the average daily balance of the account. Average Daily Balance Monthly Interest Rate $431.64 1.08% The finance charge for the given account is?
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Find the finance charge for the givevn charge account given in the table. Assume interest is calculated on the average daily balance of the account.
Average Daily Balance Monthly Interest Rate
$431.64 1.08%
The finance charge for the given account is?
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- Find the finance charge for a charge account with an average daily balance of $1213.58 and a monthly interest rate is 1.547%. Assue interest is calculated on the average daily balance of the account.What is the APR if the monthly rate of interest a credit card company charges on outstanding balances is 1.62%? Select one: O a. APR =(1.0162)^12) -1 = 0.2127, and APR = 21.27% O b. APR = ((1.0162)^7) - 1 = 0.1191, and APR = 11.91% O C. APR =((1.0162)^52) - 1 = 1.3063, and APR = 130.63%Calculate the finance charge for a credit card that has the given average daily balance and interest rate. Round your answers to the nearest cent. averagevdaily balance: $113.43; monthly interest rate: 1.35%
- Calculate the finance charge for a credit card that has the given average daily balance and interest rate. (Round your answer to the nearest cent.)Average daily balance: $111.06; monthly interest rate: 1.85%Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,200 10.4 ?? days $224The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is 1.5% of the average daily balance. Calculate parts a-d using the statement in the popup. a. Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $__?
- Find the finance charge on an unpaid balance of $1219.27 in a revolving charge account if the monthly interest rate is 1.5%. The finance charge is $ (Round to the nearest cent.) ...The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is 1.2% of the average daily balance. a. Find the average daily balance for the billing period. Round to the nearest cent The average daily balance for the billing period is $__Find the finance charge on the following open-end charge using the unpaid balance method of calculating interest. Unpaid balance: $1230.40 Annual interest rate: 21.6%
- rive loan is below. Payments of $1,987.26 are made monthly. Payment # Payment 1 1,987.26 2 1,987.26 3 1,987.26 Interest Debt Payment Balance 1,604.17 383.09 1,602.41 384.85 1,600.65 386.61 Provide your answer below: X Y Z Calculate the value of z, the balance of the loan at the end of month 3. Give your answer to the nearest dollar. Do not include commas or the dollar sign in your answer.The following loan was paid in full before its due date a) Find the value of h using an appropriate formula b) Use the actuarial method to find the amount of unearned interest c) Find the payoff amount Regular Monthly Payment # of Payments Remaining after Payoff APR 7.2% $247 8 What is the finance charge per $100 financed? h=$ (Round to the nearest cent)Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,300 10.4 107 X days $227 Need Help? Read It