The activity date, company, and amount for a credit card bill are shown below. The due date of the bill is July 10. On June 10, there was an unpaid balance of $987.81. Find the finance charge if the interest rate is 1.9% per month. (Round your answer to the nearest cent.)
The activity date, company, and amount for a credit card bill are shown below. The due date of the bill is July 10. On June 10, there was an unpaid balance of $987.81. Find the finance charge if the interest rate is 1.9% per month. (Round your answer to the nearest cent.)
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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The activity date, company, and amount for a credit card bill are shown below. The due date of the bill is July 10. On June 10, there was an unpaid balance of $987.81. Find the finance charge if the interest rate is 1.9% per month. (Round your answer to the nearest cent.)
Transcribed Image Text:Activity
Date
June 10
June 11
June 12
June 15
June 16
June 20
June 22
June 28
June 30
July 2
July 8
Company
Unpaid balance
Jan's Surf Shop
Albertson's
The Down Shoppe
NY Times Sales
Cardiff Delicatessen
The Olde Golf Mart
Lee's Hawaiian Restaurant
City Food Drive
Credit card payment
Safeway Stores
Amount
987.81
156.33
45.61
59.84
18.54
23.09
126.92
41.78
100.00
-1000.00
161.38
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