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Is my answer current ? Finance change will not change, even we have a new 1000 credit purchase? Your credit card's annual interest rate is
Is my answer current ? Finance change will not change, even we have a new 1000 credit purchase?
Your credit card's annual interest rate is 18 percent and you begin the month with a previous balance of $1,000. In addition, your payments against your credit card balance this month are $900, which are made on the 15th of the month. A $1000 credit purchase is made on 20th January. to the billede afer the fame $1.00 purchase Example Your credit card's annual interest rate is 15 peront and you begin the menth with a previous balance of 1.000. In addition, your payments against your credit card balance this month 900, which are made on the 15th of the month. You make no additional purchases during the month Method One: Adjusted Balance Method 1ST 35 th balance $1,000 payment than 18 25 balance - $100 1. adjneed bulan se = $10.00 - $oo = $lo, finance charge = $loo y 189/12 = $15 balance = $100+ $1.5-$101.5 > TF2:23 14:27 102BER 982 + 2. previous bilance = $1,7% 3. average daily frances= ($ipoxl4d $100 finance charge = $100x187/2=$15 x1 days)/30 = $530 0 = balance=115 finance charge = $320x1872-678 balance = 1-76. #A. $1900 credit purchase on 25" of the month # Dadjusted finance charge = $1: balance = $100+ $1.5+$1000 =$101.5 @ previous finance charge - $ 15 balance = $300 +$15+$1,000 = $ IS ($9000 x64df+100X15+ $600x11d)/20=88.667 finance charge =$13.3 balance = $100+ $1.000 +$1.32$||13.3 > B average o Step by Step Solution
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