Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the account activity table for Kathy. Month Previous Month's Balance Finance Charge (in $) Purchases and Cash Advances Payments and Credits New Balance End of Month (in $) March $720.00 $   $129.97 $65.00 $

Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.) PreviousBalance AnnualPercentageRate (APR)(as a %) MonthlyPeriodicRate FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $2,470.00  % 1  1/4     % $  $1,334.98 $200.00 $

Journalize the following entries on the books of the borrower and creditor. (Assume a 360-day year is used for interest computations.) June 1 Regis Co. purchased merchandise on account from Winthrop Co., $60,000, terms n/30. The cost of merchandise sold was $36,000. 30 Regis Co. issued a 60-day, 5% note for $60,000 on account. Aug. 29 Regis Co. paid the amount due. Regis Co. (Borrower). If an amount box does not require an entry, leave it blank. June 1   fill in the blank 0fa28bf87f8205e_2 fill in the blank 0fa28bf87f8205e_3     fill in the blank 0fa28bf87f8205e_5 fill in the blank 0fa28bf87f8205e_6 June 30   fill in the blank 0fa28bf87f8205e_8 fill in the blank 0fa28bf87f8205e_9     fill in the blank 0fa28bf87f8205e_11 fill in the blank 0fa28bf87f8205e_12 Aug. 29   fill in the blank 0fa28bf87f8205e_14 fill in the blank 0fa28bf87f8205e_15     fill in the blank 0fa28bf87f8205e_17 fill in the blank 0fa28bf87f8205e_18     fill in the blank…

Dallas Pierce's most recent credit card statement follows. Her finance charge is 18% APR. Calculate Dallas's average daily balance, finance charge, and new balance. Note: Round your final answers to the nearest cent. 9/2 9/7 9/13 9/17 9/28 Average daily balance Finance charge New balance 30-day billing cycle Billing date Payment Charge: Kohl's Payment Charge: WalMart $1,110 $340 $ 330 320 115 Previous balance Credit Credit

Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. Monthly Periodic Purchases Payments and Cash Advances Annual Finance New Previous Balance Percentage Rate (APR) Charge (in $) and Balance Rate Credits (in $) (as a %) $15.00 12% % $177.40 $45.00

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Finance   Calculating the Cost of Credit Card Purchases Directions Use the interest rate of 18% and an annual fee of $49 to complete this chart. In Month 1, there was a balance due of $3,000. The borrower will make a monthly payment of $200 and keep new purchases of goods and services at $115 per month for the year. Month 1 Calculate the interest for each month (balance x 1.5%). To obtain the balance for the next month, subtract the payment from the balance and add cost of new purchases plus monthly interest and fee. For example: $3,000 - $200 = $2800+ $115 + $94 = $3,009. (NOTE: The annual fee of $49 is paid only once.) 2 3 4 5 6 7 8 9 10 11 Interest rate: 18% (APR); 1.5% monthly 12 Balance $3,000 $3,009 $2,969.14 Payments $200 $200 Purchases $115 $115 E $49 $45 67-20112.2011 CARD WALICH FRACTORES 2017-12-221. PARTS TAPER Annual fee: $49 Interest & Fee $45.14 Interest & Fee (Cumulative) $94 $139.14 101

Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month Previous Month's Balance (in $) Finance Charge (in $) Purchases and Cash Advances Payments and Credits New Balance End of Month (in $) June $824.08 $14.42 $159.38 $300.00 $697.88 July $ $ $72.59 $140.00 $ Need Help? Read It

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…

Consider the following credit card activity for the month of September: Date Balance September 1 $0 September 7 $331 September 13 $935 September 21 $1,552 September 25 $ 2,208 If this card's annual APR is 20.9% and the September balance is not paid during the grace period, how much interest is owed for September? There are 30 days in September. Round your answer to the nearest dollar.