Question
6. Joe Suskind's previous month's balance on his revolving credit account was $1216.88. The account had the following activity for May: May 10, purchases, $270;
6. Joe Suskind's previous month's balance on his revolving credit account was $1216.88. The
account had the following activity for May: May 10, purchases, $270; May 15, a credit of
$86.50; May 19, payment of $300; and May 25, purchases $122.25. The finance charge is
calculated on the average daily balance at a 15% annual percentage rate.
(a) How much is the finance charge for May? Answer: _________________
(b) What is Joe's new balance? Answer: _________________
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A First Course In Harmonic Analysis
Authors: Anton Deitmar
2nd Edition
0387228373, 978-0387228372
