Shel Katz bought a $6,000 desk at Furniture.com. Based on her income, Shel could only afford to pay back $600 per month. The charge on the unpaid balance is 2% each month. The U.S. Rule is used in the calculation. Calculate the balance outstanding at the end of month 2.
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Shel Katz bought a $6,000 desk at Furniture.com. Based on her income, Shel could only afford to pay back $600 per month. The charge on the unpaid balance is 2% each month. The U.S. Rule is used in the calculation. Calculate the balance outstanding at the end of month 2.
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- Mia bought a hifg-definition television for $7,500. Based on her income she could afford to pay back $600 per month. There is a 1.5% monthly interst charge on any unpaid balance. The U.S. Rule is used in the calculation. At the end of the month 1, the balance outstanding is:Marika Katz bought a $7,000 computer. Based on her income, Marika could afford to pay back only $700 per month. The charge on the unpaid balance is 1 1/2%. The U.S. Rule is used in the calculation. Calculate the balance outstanding after the second month. (Round your answer to the nearest cent.)Mia bought a high definition television for $7, 500. based on her income she could afford to pay back only $600 per month. There is a 1.5% monthly interest charge on the unpaid balance. The U.S Rule is used to in the calculation. At the end of the month 1, the balance outstanding is
- Jill bought a $580 rocking chair. The terms of her revolving charge are 2% on the unpaid balance from the previous month. If she pays $100 per month, complete a schedule for the first 3 months like Table 14.3. Be sure to use the U.S. Rule. Note: Round your final answers to the nearest cent. Monthly payment number 1 2 3 Outstanding 2.0% interest balance due payment Amount of monthly payment Reduction in balance due Outstanding balance dueDan buys a new desk for $3,000. Miller will pay back $260 per month. Interest is 5% on the unpaid balance. Calculate balance outstanding after second payment (Use U.S. Rule)Arnold Brown has a Visa Card with an annual percentage rate of 19.2%. The unpaid balance for his June billing cycle is $1,004.19. During the billing cycle he purchased a printer cartridge for $44.86, books for $290.76 and gasoline for $15.84. He made a payment of $1,000. If the account applies the unpaid balance method, what are the finance charge and the new balance? The finance charge is $. The new balance is $ (Round to the nearest cent as needed.)
- Arnold Brown has a Visa Card with an annual percentage rate of 18.0%. The unpaid balance for his June billing cycle is $1,025.31. During the billing cycle he purchased a printer cartridge for $41.56, books for $242.87 and gasoline for $19.05. He made a payment of $1,200. If the account applies the unpaid balance method, what are the finance charge and the new balance?Max Wholesaler borrowed $2,000 on a 10%, 120 - day note. After 45 days, Max paid $700 on the note. Thirty days later, Max paid an additional $630. What is the final balance due? Use the U.S. Rule to determine the total interest and ending balance due. Use ordinary interest.The due date on Gabrielle's credit card is the 8th day of each month. Gabrielle's unpaid credit card balance on July 8th is $2,750. From July 9th to August 8th, she charged an additional $320 and made a payment of $400. Assuming the annual interest rate on her card is 11% and the finance charge is calculated using the unpaid balance at the end of the billing cycle, find the total unpaid balance on Gabrielle's card on August 8th. Balance = $ What additional finance charge will be added to her August balance after the 8th? Finance charge
- Arnold Brown has a Visa Card with an annual percentage rate of 19.2%. The unpaid balance for his June billing cycle is $1,319.16. During the billing cycle he purchased a printer cartridge for $43.51, books for $245.53 and gasoline for $15.13. He made a payment of $1,100. If the account applies the unpaid balance method, what are the finance charge and the new balance? The finance charge is $nothing. The new balance is $Able Long buys a new desk for $2,400. Able will pay back $250 per month. Monthly interest is 3% on the unpaid balance. Calculate the balance outstanding after the second payment. (Use the U.S. Rule.) (Round your answer to the nearest cent.)Flower opened a credit card account. During the first month she purchased new cloths that totaled $1,550.00 and then put the card in a desk drawer and didn’t use it again. The structure of the minimum monthly payment is the interest charge plus an additional 3.0% of the remaining balance. If Flow only makes the minimum monthly payment, how long will it take for the remaining balance to be half the amount of her original purchases?