Kimberly has a revolving credit account at an annual percentage rate of 15%. Her previous monthly balance is $724.19. Find the new balance if Kimberly's account showed the following activity. (Use the unpaid balance method.) STATEMENTMay 7May 10May 14May 19May 28$763.92$1,574.32O $2,000.00O $2,305.76OF ACCOUNT Billing cycle: May 1-31Cleaning Supplies$ 88.76PaymentJim's Appliance (credit)Jen's CateringJackie's Garage115.00250.72354.12763.92

Step 1 A sort of credit facility offered by banks is a credit card, which enables users to borrow…

Kimberly has a revolving credit account at an annual percentage rate of 15%. Her previous monthly balance is $724.19. Find the new balance if Kimberly's account showed the following activity. (Use the unpaid balance method.)

Kimberly has a revolving credit account at an annual percentage rate of 15%. Her previous monthly balance is $724.19. Find the new balance if Kimberly's account showed the following activity. (Use the unpaid balance method.)

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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Question

STATEMENT
May 7
May 10
May 14
May 19
May 28
$763.92
$1,574.32
O $2,000.00
O $2,305.76
OF ACCOUNT Billing cycle: May 1-31
Cleaning Supplies
$ 88.76
Payment
Jim's Appliance (credit)
Jen's Catering
Jackie's Garage
115.00
250.72
354.12
763.92

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2) Chris had these daily balances on his credit card for his last billing period. He did not pay the card in full the previous month, so he will have to pay a finance charge. The APR is 25.2%. 8 days @ $223.25 6 days @ $779.00 6 days @ $2,290.50 10 days @ $1,311.25 a) What is the average daily balance? Round to the nearest cent. b) What is the finance charge? Round to the nearest cent.
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Interest Earned. On June 1, Mia deposited $5,600 in an MMDA that pays 3% interest. On October 31, Mia invested $1,200 in a three-month CD that pays 4%. At the end of the year, how much interest will Mia have earned, assuming she hasn't taken anything out of the money market deposit account? Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is (Round to the nearest cent.).
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Mr. jones had balances on his credit card his last period. He did not pay the card in the previous month, so he have pay a Inance charge The APR 23.4%

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