Joanna has an unpaid balance of $2500 on her account as of October 9, 2020. On October 15 and October 17, 2020, she used it to buy new laptop and cellphone for $20,000 and $11,900, respectively. And on October 22, she used it again to buy a new pair of shoes worth $870. She made a payment of $15,000 on November 2, 2020 and has decided not to use it again until she paid it off. The credit card she used has an interest rate of 1.75%, what will be the total finance charges on the November 9, 2020 bill?

Joanna has an unpaid balance of $2500 on her account as of October 9, 2020. On October 15 and October 17, 2020, she used it to buy new laptop and cellphone for $20,000 and $11,900, respectively. And on October 22, she used it again to buy a new pair of shoes worth $870. She made a payment of $15,000 on November 2, 2020 and has decided not to use it again until she paid it off. The credit card she used has an interest rate of 1.75%, what will be the total finance charges on the November 9, 2020 bill?

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 20DQ

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