5 You have been pricing a compact disc player in several stores. Three stores have the exact same price of $300. Each of these stores' charges 18 percent APR, has a 30-day free ride, and sends out bills on the first of the month. On further investigation, you find that Store A calculates the finance charge by using the average daily balance method, that Store B uses the adjusted balance method, and that Store C uses the previous balance method. Assume that you purchased the disc player on May 5 and that you made a $100 payment on June 15. What will the finance charge be for June if you made your purchase from Store A? from Store B? from Store C? 6 Sidney took a $200 cash advance by using cheques linked to her credit card account. The bank charges a 2-percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived. What was the cash advance fee? What was the interest for one month at an 18-percent APR? What was the total amount she paid? What if she had made the purchase with her credit card (assuming no over credit limit) and paid the bill in full promptly? 5 You have been pricing a compact disc player in several stores. Three stores have the exact same price of $300. Each of these stores' charges 18 percent APR, has a 30-day free ride, and sends out bills on the first of the month. On further investigation, you find that Store A calculates the finance charge by using the average daily balance method, that Store B uses the adjusted balance method, and that Store C uses the previous balance method. Assume that you purchased the disc player on May 5 and that you made a $100 payment on June 15. What will the finance charge be for June if you made your purchase from Store A? from Store B? from Store C? 6 Sidney took a $200 cash advance by using cheques linked to her credit card account. The bank charges a 2-percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived. What was the cash advance fee? What was the interest for one month at an 18-percent APR? What was the total amount she paid? What if she had made the purchase with her credit card (assuming no over credit limit) and paid the bill in full promptly