1.

Using the previous balance method, compute the finance charge. Round dollar to the nearest cent.

Previous Balance	APR	finance charge
$430.50	18%	$

2. What is the new balance for the credit account in part D?

Round your answer to two decimal places.

3. Find the total amount of installment payments for Jeffrey. He purchased a wraparound sofa for his den. He agreed to pay 12 installments of $68.60. Round dollars to the nearest cent. $

4. Determine the total amount of installment payments that Shawn will be responsible for if he decides to purchase the computer system on 24 installment payments of $165.00 per month. Place comma symbol in answer as needed. Round dollars to the nearest cent. $

5. Shawn is interested in purchasing a new computer system for $1,650.00 and would like to apply a down payment of 20%. Calculate the down payment amount. Round dollars to the nearest cent. $

chlle01 [Modo de compatibilidad] - Excel Archivo inicio Insertar Diseo de pgina Frmulas Datos Revisar Vista Qu desea hacer? Empe Urbina Compartin A1 | Chapter 11-Exercise 01 1 Chapter 11-Exercise 01 3 A. Convert the following rates from annual to monthly Monthly Rate Annual Rate 21.0% 18.0% 20.0% 24 090 0 Directions: 11 a. Enter formulas in Column B to convert the rates from Annual to Monthly 12 b. Format Column B for Percentage. Set Decimal places to 2 13 15 B. Convert the following rates from monthly to annual 16 Monthly Rate 1.8% 08% 13% Annual Rate 18 19 20 21 22 Directions 23 a. Enter formulas in Column B to convert the rates from Monthly to Annual. 24 b. Format Column B for Percentage. Set Decimal places to 1 25 ch11ex01.xlsx - +100% 7-24 PM O Type here to search 4ENG 3/22/2019 chlle01 [Modo de compatibilidad] - Excel Archivo inicio Insertar Diseo de pgina Frmulas Datos Revisar Vista Qu desea hacer? Empe Urbina Compartin A1 | Chapter 11-Exercise 01 C. Tri-Delta Graphics Services has an account at the local office supply store. Tri-Delta shows a previous balance of $593.24. The office supply store computes 1.5% on previous or unpaid balances. Compute the 27 finance charge and the new balance using the previous balance 28 Previous Balance 29 Monthly Rate 30 Finance Char 31 New Balance 32 33 Directions 34 a. In Cell B30, enter a formula to calculate Finance Charge 35 b. In Cell B31, enter a formula to calculate New Balance 36 C. Format Cells B30 and B31 for Currency, 2 Decimal places, and S 37 38 1.5% D. The monthly rate is 2% on First $1,000 and 1.75% on Amount over $1,000. Compute finance charge 39 and new balance on 40 Previous Balance 41 Pa 42 Credit 43 Finance Charge on First $1,000 44 Finance Charge on Amount Over $1,000 45 Total Finance Char 46 New Balance 47 48 Directions ous balance less nts and credits $1,542.82 $475.50 $55.80 2.0% I 75% $1,000.00 ch11ex01.xlsx - +100% 7-24 PM O Type here to search chllex01 [Modo de compatibilidad]- Excel Archivo inicio Insertar Diseo de pgina Frmulas Datos Revisar Vista Qu desea hacer? Empe Urbina Compartr | Chapter 11-Exercise 01 33 Directions 34 a. In Cell B30, enter a formula to calculate Finance Charge. 35 b. In Cell B31, enter a formula to calculate New Balance. 36 c. Format Cells B30 and B31 for Currency, 2 Decimal places, and S. 37 D. The monthly rate is 2% on First $1,000 and 1.75% on Amount over $1,000. Compute finance charge 39 and new balance on previous balance less payments and credits. 40 Previous Balance 41 Payment 42 Credit 43 Finance Charge on First $1,000 44 Finance Charge on Amount Over $1,000 45 Total Finance Charge 46 New Balance 47 48 Directions 49 a. In Cell D42, enter a formula to calculate Finance Charge on First $1,000 50 b. In Cell C43, enter a formula to calculate the amount over $1,000. 51 C. In Cell D43, enter a formula to calculate Finance Charge on Amount Over $1,000 52 d. In Cell D44, enter a formula to calculate Total Finance Charge. 53 e. In Cell D45, enter a formula to calculate New Balance. 54 f. Format dollar amounts for Currency, 2 Decimal places, and $. 55 g. Save the file as ch11ex01a.xlsx. $1,542.82 $475.50 S55.80 $1,000.00 1 75% ch11ex01 xlsx - +100% 7-25 PM O Type here to search