Q: Michelle’s credit card billing cycle is 30 days. She had a
Michelle’s credit card billing cycle is 30 days. She had a daily balance of b dollars for d days. Then she charged one item for $56, and she made no more purchases for the rest of the month. There was...
See AnswerQ: The finance charge on Lena’s credit card bill last month was $
The finance charge on Lena’s credit card bill last month was $13.50. Her APR is 18%. What was her average daily balance?
See AnswerQ: Riel had an average daily balance of $415.22 on
Riel had an average daily balance of $415.22 on his May credit card statement. The bill showed that his APR was 21.6% and that his finance charge was $89.69. When he verified the finance charge, did h...
See AnswerQ: What is the monthly periodic rate on a loan with an APR
What is the monthly periodic rate on a loan with an APR of 19.5%?
See AnswerQ: Mike owned 3,000 shares of CreeChurrs Corporation and received a
Mike owned 3,000 shares of CreeChurrs Corporation and received a quarterly dividend check for $1,140. What was the annual dividend for one share of CreeChurrs?
See AnswerQ: Harold borrowed $8,000 for 5 years at an APR
Harold borrowed $8,000 for 5 years at an APR of 2.75%. a. What is Harold’s monthly payment? Round to the nearest cent. b. What is the total amount that Harold paid in monthly payments for the loan?...
See AnswerQ: Examine the summary section of the monthly credit card statement. Use
Examine the summary section of the monthly credit card statement. Use the first five entries to determine the new balance.
See AnswerQ: Irina’s credit card has an APR of 16.8%. She
Irina’s credit card has an APR of 16.8%. She never pays her balance in full, so she always pays a finance charge. Her next billing cycle starts today. The billing period is 30 days. Today’s balance is...
See AnswerQ: The table lists the balances at the end of each year for
The table lists the balances at the end of each year for a 15-year, $50,000 loan with an 8% interest rate. Year ………………………………………………………………………………………………. Balance 0 ………………………………………………………………………………………………. $...
See AnswerQ: Bill can afford a monthly payment of $475. He wants
Bill can afford a monthly payment of $475. He wants to take out a $20,000 loan at a 4.25% interest rate. What should the length of the loan be? Round your answer to the nearest year.
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