Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.)   30-day billing cycle 9/16 Billing date Previous balance     $ 800 9/19 Payment   $ 48 cr.   9/30 Charge: Home Depot     900   10/3 Payment     48 cr.   10/7 Cash advance     58       Finance charge is 1.25% on average daily balance.

Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…

A: Variables in the question:Balance=$700Rate(r)=17%Payment=$650Assume 365 days in a year

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Q: Calculate the average daily balance and finance charge on the statement below. Assume 2% finance…

A: Total Amount= Amount * Number of daysTotal Cummulative amount= 6000+2700+3300= 12000

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A: Finance Charge:- It is a form of compensation to the lenders for providing funds or extending credit…

Q: Calculate the average daily balance and finance charge on the statement below. Note: Round your…

A: The average daily balance is a common accounting method that calculates interest charges by…

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A: The average daily balance is to be calculated by taking the sum of the multiples of the balance…

Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…

A: In adjusted balance methods, payments made on transactions will be deducted from balance.Adjusted…

Q: Calculate the average daily balance and finance charge on the statement below. Note: Round your…

A: The average daily balance is a common accounting method that sets interest costs by using the…

Q: Dallas Pierce’s most recent credit card statement follows. His finance charge is 18% APR. Calculate…

A: Average daily balance = sum of balance at the end of each dayno of days in billing cycle

Q: Dallas Pierce's most recent credit card statement follows. His finance charge is 18% APR. Calculate…

A: (Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: The activity on Denise Hellings' Sears account for one billing period is shown below. Find the…

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Q: Calculate the monthly payment from the following information by formula. (Do not round intermediate…

A: Compound = monthly = 12 Time = t = 48 months Present value = pv = $4560 Interest rate = r = 13.5 /…

Q: (a) During the September 20 through October 19 billing period, you pay the minimum required payment…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: Calculate the missing information on the revolving credit account. Interest is calculated on the…

A: Formula: Annual percentage rate = Monthly periodic rate x 12 months Multiplying monthly periodic…

Q: please step by step solution.

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Q: You have a revolving credit account at an annual percentage rate of 18%. Use the average daily…

A: Answer is Option B =$151.28

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A: Credit cards refer to debt instruments used by companies and individuals and issued by financial…

Q: Calculate the average daily balance and finance charge on the statement below. Note: Round your…

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Q: Calculate the average daily balance and finance charge on the statement below. Note: Round your…

A: The finance charge is the cost determined by multiplying the estimated rate of finance with the…

Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…

A: The question is based on the calculation of financial charges on a credit card. The Financial…

Q: For the credit card account, assume one month between billing dates (with the appropriate number of…

A: Average daily balance is the

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A: Finance Charge is the interest charged by credit card companies over an outstanding amount.  Average…

Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…

A: Given information : Time it takes for payment = 10 days Length of month = 30 days Balance = $475…

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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…

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Q: Dallas Pierce's most recent credit card statement follows. Her finance charge is 18% APR. Calculate…

A: Average daily balance is calculated by weight average of unpaid balance, where the weight is the…

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A: In this we have to calculate total monthly balance and than find out average daily balance.

Q: Calculate the average daily balance and finance charge on the statement below. Note: Round your…

A: In the Average daily balance method, the daily balance in the credit card account is calculated and…

Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…

A: Finance charge refers to the amount that is billed to the card account if the previous month’s total…

Q: Suppose you have a revolving credit account at an annual percentage rate of 12%, and your previous…

A: New balance is calculated by taking into consideration the previous balance and all the balance…

Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…

A: Information Provided: Balance = $600 Rate = 18% Payment = $550 Term = 10/30 days

Q: FILA Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10…

A: Given: Particulars Amount Opening balance 350 Interest rate 18% Payment 300 Days 10…

Q: The average daily balance of a credit card for the month of January was $1600 and the unpaid balance…

A: The interest of credit card is the cost incurred for the amount borrowed. The interest is calculated…

Q: A credit card has a monthly rate of 1.54%. In the January 1-January 31 itemized billing, the average…

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Q: (Related to Checkpoint 9.2 and Checkpoint 9.3) (Bond valuation) The 11-year $1,000 par bonds of Vail…

A: Price of the bond refers to the current value of the bond. It can be determined by discounting the…

Q: calculate the monthly finance charge for the credit card transaction assume that it takes 10 days…

A: Balance = $675  Interest rate = 15%  Payment = $625     It takes 10 days for the payment to be…