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caich up on the ungaid balance in November. She spilled watercolor paint on that portion o she made a 5200 payment on November 10 She

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caich up on the ungaid balance in November. She spilled watercolor paint on that portion o she made a 5200 payment on November 10 She also charged purchases of o her work. She has was 5600 5, s100 on November 15, and 550 on November 30 She paid $s. 27 in interest the month before. and the number 16%. Also, the back of her statement indicates current punchases, which considers the day of a charge or credit that interest was charged using the average daily balance I. Find the unpaid halance on Novenmber 30 before the interest is charged 2. Assuming a 30-day period in November find the average daily balance. & Calculate the interest for November What was the unpaid balance for November after interest is charged? Sounce: Adaptod from Winger and Frasca, Personal Insegnaed Approack Pinance:A lngratnd Approach 6th edition, Upper Saddie River, NJ: Prentice Hall., p. 16 12-2 Massage Therapy It was time to expand her massage therapy business, and Arminte had finally found a commercial space that met her needs. With room for herself and the two new massage therapists she planned to hire, and to a chiropractor's office, the space was everything that she had hoped for. Now all she needed purchases for three massage rooms, furniture for the reception area, various artwork, and miscellaneous supplies. Arminte started to make a list of massage equipment: 3 tables at $1,695 each: 3 stools at $189 each; a portable massage chair for $399; and the list went on-bolsters, pillows, sheets adjacent table warmers, and music. By the time Arminte was finished, her massage equipment alone totaled 57.644.25, including sales tax. The supplier offered in-house financing of 24 monthly payments at $325.33 per month, with a 10% down payment. 1. Find the amount financed, installment price, and the finance charge presuming Arminte goes with the financing available through her supplier 2. Use Table 12-1 to find the annual percentage rate (APR) of the financing. 2 CHAPTER 12

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