Answer this math problem 1. [-/1 Points] DETAILSBRECMBC9 13.1.006.MI.MY NOTESASK YOUR TEACHERPRACTICE ANOTHERCalculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month'sbalance. (Round dollars to the nearest cent.)PreviousBalanceAnnualPercentageMonthlyPeriodicFinanceChargePurchasesRate (APR)Rate(as a %)(in $)and CashAdvancesPaymentsandCreditsNewBalance(in $)$1,029.61%1%$$322.20$200.00 $Need Help?Read ItMaster ItSubmit Answer

Annual Percentage Rate (APR)= Monthly periodic rate x 12=>Annual Percentage Rate (APR)= 1% x…

Answered: Calculate the missing information on…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous mo th's balance. (Round dollars to the nearest cent.) Annual Monthly Finance Purchases Payments New Previous Percentage Rate (APR) (as a %) Periodic Charge and Cash and Balance Balance Rate (in $) Advances Credits (in $) 1-% $ 31.12 $2,490.00 15 % $1,354.98 $300.00 3576.1 4
N. Saving... V O Search (Alt+Q) ngs Review View Help Grammarly The balance on a credit card, that charges a 28.5% APR interest rate, over a 1 month period is given in the following table: Days 1-3: $150 (initial balance) Days 4-20: $200 ($50 purchase) Days 21-30: $50 ($150 payment) What is the finance charge, on the average daily balance, for this card over this 1 month period? Hint: First, calculate the balance for the 30 days. To do this, take the number of days and multiply it by the balance. What was the balance for the first 3 days? 3($[?]) + ($200) + ($50) Enter
In the credit terms 1/10, n/30, what does the "1" represent? Group of answer choices number of days when the entire amount is due number of days in the discount period full amount of the invoice 1% cash discount if paid within the credit period
In credit terms of 3/15, n/45, the "3" represents the Oa. number of days in the discount period Ob. number of days when the entire amount is due Oc. percent of the cash discount )d. full amount of the invoice
In credit terms of 2/10, n/30 the "2" represents the O A. Number of days in the discount period O B. Full amount of the invoice C. Number of days when the entire amount is due O D. Percent of the cash discount
oft WE ivable/Notes Payable X b JOURNAL ENTRIES (NOTE ISSUEL X + moodle.cw.edu/mod/quiz/attempt.php?attempt3=56737&cmid%3733537 Graphics has the following notes payable transactions. Record these transactions in eneral journal. July 5lssued a $3,500 note to Roma Ceramic Inc. The 10%, 60-day note is in full payment of an account payable. 9Borrowed $5,000 from the bank sighing a 6%, 90-day note. 11Paid $500 cash and issued a $2,000, 8% 30-day note to Design Center in payment of an account payable. Aug. 5Borrowed $3,600 for 30 days from the bank on a non-interest-bearing note. The discount rate is 10%. Sept. 3Paid the principal and interest due on the $3,500 note to Roma Ceramic Inc. Oct. 3Paid the interest due on the $5,000 note to the bank and renewed the principal for 30 days at 7%. GENERAL JOURNAL Page 1 Post Date Description Ref. Debit Credit because we are The Colle 10mdio playyas
Tutorial Exercise Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. Monthly Periodic Annual Finance Purchases Payments and Credits New Balance Previous Percentage Rate (APR) Charge (in $) and Cash Balance Rate Advances (in $) (as a %) $1,022.61 1.5% $322.20 $300.00 Step 1 In the credit account statement below, the values of the annual percentage rate (APR), finance charge, and the new balance must be calculated. Monthly Periodic Purchases Payments and Cash Advances Annual Finance New Balance Previous Percentage Rate (APR) Charge (in $) and Credits Balance Rate (as a %) (in $) $1,022.61 1.5% $322.20 $300.00 Recall that the annual percentage rate (APR) is tied to the monthly periodic rate by the following formula. APR monthly periodic rate = 12 By solving this equation for the APR, the known value for the monthly periodic rate can be substituted to calculate the APR. APR = monthly periodic rate x 12 The…
-jasoniabattles@cont x udentFunctions/Interface/acellus_engine.html?ClassID=980092141 K to 12 6 BS Acellus - The Scienc M My Gmail B My Classes S My Drive-Google D.. Average Daily Balance Interest Calculation The balance on a credit card, that charges a 20% APR interest rate, over a 1 month period is given in the following table: $150 (initial balance) Days 4-20: $200 ($50 purchase) ($150 payment) Days 1-3: Days 21-30: $50 What is the finance charge, on the average daily balance, for this card over this 1 month period? finance charge $ [?] Round to the nearest hundredth. Enter Corporation All Rights Reserved.
LATION Saved V Mailings Review View Help Grammarly lity: Investigate O Search (Alt+Q) The balance on a credit card, that charges a 10.5% APR interest rate, over a 1 month period is given in the following table: I Days 1-5: $200 (initial balance) Days 6-20: $350 ($150 purchase) Days 21-30: $150 ($200 payment) What is the finance charge, on the average daily balance, for this card over this 1 month period? finance charge = $ [?] Round to the nearest hundredth. DELL Enter
If a credit card you are interested in has an APR of 24%, what would the Daily Periodic Rate (DPR) be? Express your answer as a percent. A. .000658% B. . 0658% C. . 24% D. 2%
Note: Round all answers to the nearest cent when necessary. Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for the following installment loan. Purchase(Cash)Price DownPayment AmountFinanced MonthlyPayment Number ofPayments FinanceCharge TotalDeferredPaymentPrice $2,600 0 $ $188.69 18 $ 796.42 $
In credit terms of 3/15, n/45, the "3" represents the Oa. full amount of the invoice Ob. number of days in the discount period Oc. number of days when the entire amount is due Od. percent of the available discount for early payment 4

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