Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $3,000 balance, 15%, $60 payment (a) previous balance method $ 37.5 (b) adjusted balance method $ 136.75 (c) average daily balance method $ 13.54

Complete the following table: (Do not round intermediate calculations. Round your answers to the nearest cent.) First Payment Broken Down Into- Selling price $ 126,000 $ 7,000 Down payment Amount mortgage Rate 7.50 % Years 30 Monthly payment Interest Principal Balance at end of month

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $3,000 balance, 11%, $90 payment (a) previous balance method $ Correct: Your answer is correct. (b) adjusted balance method $ Incorrect: Your answer is incorrect. (c) average daily balance method $ Incorrect: Your answer is incorrect.

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: $116.44; monthly interest rate: 1.15%

You are the loan department supervisor for a bank. This installment loan is being paid off early, and it is your task to calculate the rebate fraction, the finance charge rebate (in $), and the payoff for the loan (in $). (Round dollars to the nearest cent.) Amount Number of Financed Payments $1,900 18 Monthly Payments Payment Made $121.89 15 Rebate Fraction Finance Charge Rebate Loan Payoff

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You have an account with a $1000 credit limit that charges 12.25% interest using the average daily balance method.  Assuming a 30 day month, you start with a balance of $200 on Day 1.  On Day 5, you charge $50 and you pay $150 on Day 15.  What is your average daily balance, assuming charges and payments begin the next day? Round your answer to 2 decimal places.

Find the size of the monthly bank payment: P=$75,000 interest= 7 3/4% time= 4 months

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: $112.66; monthly interest rate: 1.15%

You are the loan department supervisor for a bank. This installment loan is being paid off early, and it is your task to calculate the rebate fraction, the finance charge rebate (in $), and the payoff for the loan (in $). (Round dollars to the nearest cent.) Amount Number of Financed Payments $1,700 18 Monthly Payment $125.89 Payments Made 13 Rebate Fraction Finance Charge Rebate Loan Payoff