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Given this statement, 1. What is the maximum amount Jane Doe can currently charge to the credit card, prior to making any further payments to
Given this statement,
1. What is the maximum amount Jane Doe can currently charge to the credit card, prior to making any further payments to her account? ($5,000 , $1,522.02 , $3,477.98 , or $76.10)
2. If Jane Doe wanted to pay off the total amount of money she has charged to this card, how much would she need to pay? ($250.00 , $1,522.02 , $3,477.98 , or $76.10)
3. How much is the APR Jane Doe is being charged for purchases on this card? (1.65% , 0.54% , 0.48% , or 19.80% )
SAMPLE CREDIT CARD STATEMENT Any Bank SEND PAYMENT TO: Box 1234 CREDIT CARD STATEMENT Anytown, USA Note ACCOUNT NUMBER NAME STATEMENT DATE PAYMENT DUE DATE these 1234-567-890 Jane Doe 01/01/2009 02/26/09 dates! CREDIT LIMIT CREDIT AVAILABLE NEW BALANCE MINIMUM PAYMENT DUE $5,000.00 $3,477.98 $1,522.02 $76.10 This Month's Activity: TRANSACTION POST DATE TRANSACTION DESCRIPTION DATE AMOUNT 01/01/09 01/01/09 Payment -250.00 01/05/09 01/07/09 Reds Department Store 68.81 01/12/09 01/13/09 Record Mania 18.05 01/15/09 01/16/09 Sweeney's Pozzeria 15.50 01/22/09 01/25/09 Country Airline 188.00 01/25/09 01/27/09 Sports Plus Apparel -77.35 Statement Summary: Credit Limit 5,000.00 Daily Balance Available Credit 3,477.98 Closing Date 02/15/2009 Payments/Credits 327.35 Days in Billing Period 30 + Finance Charges 12.28 Scheduled to Pay 76.10 = New Balance 1,522.02 Past Due 0.00 Minimum Payment 76.10 FINANCE CHARGE SUMMARY PURCHASES ADVANCES For Customer Service Call Periodic Rate 1.65% 0.54% 1-800-000-0000 Annual Percentage Rate 19.80% 6.48 For Lost or Stolen Card, Call: 1-800-000-0000 Please make check or money order payments 24-Hour Telephone Numbers to Any Bank Watch these numbersStep by Step Solution
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