
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Use the unpaid balance method to find the finance charge on the credit card account for December. The balance at the beginning of the month is 580$. Theannual interest rate is 17%. The billing date is December 1st. The transactions on the account for the month are given below.
November 1 |
Finance charge for November |
November 8 |
Charged $53 |
November 10 |
Amazon refund $182 (item not delivered) |
November 13 |
Charged $405 (airplane tickets) |
November 22 |
Charged $219 (shopping) |
November 28 |
Payment $700 |
The finance charge for November: $
Balance at the end of November: $
The finance charge for December: $
(Round the answers to nearest cent.)
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