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Kara's Capitol One Card has a billing cycle that starts on the 19th of each month and goes to the 18th of the next month.
Kara's Capitol One Card has a billing cycle that starts on the 19th of each month and goes to the 18th of the next month. The APR for the card is 19.5%. Her transactions for the periods 19 November - 18 December are below. Notice she made an online payment of $300 on 28 November that was credited to her balance that same day. Determine the balance on her account at the end of the cycle.
CREDIT CARD DEBT PROBLEM Example: Kara's Capitol One Card has a billing cycle that starts on the 19th of each month and goes to the 18th of the next month. The APR for the card is 19.5%. Her transactions for the periods 19 November - 18 December are below. Notice she made an online payment of $300 on 28 November that was credited to her balance that same day. Determine the balance on her account at the end of the cycle. Determine the periods when the balance is constant and for how many days the account is at that balance. First: = Second: Average Daily Balance = Number of days in billing cycle Periodic Interest Rate = Finance Charge = Ending balance = CREDIT CARD DEBT PROBLEM Example: Kara's Capitol One Card has a billing cycle that starts on the 19th of each month and goes to the 18th of the next month. The APR for the card is 19.5%. Her transactions for the periods 19 November - 18 December are below. Notice she made an online payment of $300 on 28 November that was credited to her balance that same day. Determine the balance on her account at the end of the cycle. Determine the periods when the balance is constant and for how many days the account is at that balance. First: = Second: Average Daily Balance = Number of days in billing cycle Periodic Interest Rate = Finance Charge = Ending balance =Step by Step Solution
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