On October 24, you plan to purchase a $1,800 computer by using one of your two credit cards. The Silver Card charges 18% interest and calculates interest based oi the balance on the first day of the previous month. The Gold Card charges 18% interest and calculates interest based on the average daily balance. Both cards have $0 balance as of October 1. The closing date is the end of the month for each card. Your plan is to make a $600 payment in November, make a $600 payment in December, and pay off the remaining balance in January. All your payments will be received and posted on the 10th of each month. No other charges will be made on the account. (Round your answers to the nearest cent.) (a) Based on this information, calculate the interest (in $) charged by each card for this purchase. Silver Card Gold Card 2$ (b) Which card is the better deal and by how much (in $)? The --Select--- v is the better deal by $

You have a credit card that has a balance of $8930 at an APR of 16.49%. You plan to pay $400 each month in an effort to clear the debt quickly. How many months will it take you to pay off the balance?

You had a $1,500 dollar balance last month after you paid on your credit card. You charged a Gazebo on the 10th for $1100 (aluminum top model). Your card has a minimum finance charge of $3.00 a month and 12% APR. What is the balance due at the end of the month using the Average Daily Method

On October 25, you plan to purchase a $1,500 computer by using one of your two credit cards. The Silver Card charges 18% interest and calculates interest based on the balance on the first day of the previous month. The Gold Card charges 18% interest and calculates interest based on the average daily balance. Both cards have a $0 balance as of October 1. The closing date is the end of the month for each card. Your plan is to make a $500 payment in November, make a $500 payment in December, and pay off the remaining balance in January. All your payments will be received and posted on the 10th of each month. No other charges will be made on the account. (Round your answers to the nearest cent.) (a) Based on this information, calculate the interest (in $) charged by each card for this purchase. Silver Card Gold Card $7 $ 7.6 X (b) Which card is the better deal and by how much (in $)? The ---Select--- is the better deal by $

You have an account with a $1500 credit limit that charges 13.25% interest using the average daily balance method.  Assuming a 30-day month, you start with a balance of $350 on Day 1.  On Day 5, you charge $100, and you pay $60 on Day 15.  What is your average daily balance, assuming charges and payments begin the next day? Round your answer to 2 decimal places and do not include the dollar sign

Your credit card has a limit of $3,000. You have charged goods totaling that amount. Your yearly APR is 12%. What is the finance charge one month?

John Smith has a credit card that charges 11% annual interest on the monthly average daily balance for the billing cycle. The current billing cycle has 29 days. For 14 days his balance was $2,536.28. For 7 days the balance was $1,536.28. And for 8 days the balance was $1,807.15. Find the average daily balance. Find the amount of interest. The average daily balance is $ The amount of interest is $ (Round to the nearest cent as needed.) ...

A machine shop has a credit card that offers rebates on purchases. At the end of May, the company had a credit card bill of $19,462.41. The company must make a minimum payment that is the greater of $500 or 4.5% of the credit card bill. (a) What is 4.5% of the credit card bill? (Round your answer to the nearest cent.) (b) What is the minimum monthly payment for May? (Round your answer to the nearest cent.)

John Smith has a credit card that charges 11​% annual interest on the monthly average daily balance for the billing cycle. The current billing cycle has 30 days. For 17 days his balance was ​$2,536.51. For 7 days the balance was ​$1,536.51. And for 6 days the balance was ​$1,895.33. Find the average daily balance. Find the amount of interest.

FIGURE OUT THE NEW STATEMENT BALANCE. You have a credit card that charges 18.99% on any outstanding balances, and 25% on cash advances, plus a fee of 3% of the amount of the cash advance. The closing date on the credit card is the 1st of each month. Last month you left a balance of $1800 on your credit card. This month you took out a cash advance of $450 and made $1600 in additional purchases. You made a payment of $950. What will the total of your new balance be on your next credit card statement, taking into account finance charges?