Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hand written please with explanation Problem 1. Calculate the interest on a $1,325 credit card balance showing 18.25% APR assuming that $325 is sent on

hand written please with explanation image text in transcribed
Problem 1. Calculate the interest on a $1,325 credit card balance showing 18.25% APR assuming that $325 is sent on March 10th and is recorded on March 20th. Use the following method for calculating the interest. (a) previous balance method (b) adjusted balance method (c) average daily balance method Problem 2. A newspaper advertisement offers a $4,000 used car with $250 down and 36 easy monthly payments of $116.62. Find (a) Amount to be paid (b) Amount of interest (c) Interest rate,r,rounded to the nearest hundredth of a percent. (d) APR, rounded to the nearest tenth of a percent

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

Day Trading Strategies And Risk Management

Authors: Richard N. Williams

1st Edition

979-8863610528

More Books

Students also viewed these Finance questions