Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a credit card has an unpaid balance of 8,210 as of april 5,2017. purchases accounting to 4,045 on groceries and 12,000 on apparels were made

a credit card has an unpaid balance of 8,210 as of april 5,2017. purchases accounting to 4,045 on groceries and 12,000 on apparels were made on april 12 2017 and april 15 2017 respectively. a cash advance of 10000 was credited to the account with a flat rate og 5% monthly on april 18, 2017. a cash payment of 15,000 was made on april 30,2017. if the company policy excludes cash advances in the computation of the ADB, what is the total finance charges on the May 5, 2017 bill if the interest rate on the ADB is 3.5% per month?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Supernatural Provision Living In Financial Freedom

Authors: Joan Hunter, Sid Roth

1st Edition

1641238232, 978-1641238236

More Books

Students also viewed these Finance questions

Question

T F In Japan, a business card should be presented with both hands.

Answered: 1 week ago