you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 12% APR and the following transactions? 31-day billing cycle 10/1 Previous balance $ 1,177 10/3 Credit $ 66 Credit 10/12 Charge: King Soopers $ 161 10/15 Payment $ 440 Credit 10/25 Charge: Delta $ 334 10/30 Charge: Holiday Fun $ 74 What is the amount owed?
you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 12% APR and the following transactions? 31-day billing cycle 10/1 Previous balance $ 1,177 10/3 Credit $ 66 Credit 10/12 Charge: King Soopers $ 161 10/15 Payment $ 440 Credit 10/25 Charge: Delta $ 334 10/30 Charge: Holiday Fun $ 74 What is the amount owed?
Chapter7: Credit Cards And Consumer Loans
Section: Chapter Questions
Problem 3FPC
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f you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 12% APR and the following transactions?
| 31-day billing cycle | ||||
| 10/1 | Previous balance | $ 1,177 | ||
|---|---|---|---|---|
| 10/3 | Credit | $ 66 | Credit | |
| 10/12 | Charge: King Soopers | $ 161 | ||
| 10/15 | Payment | $ 440 | Credit | |
| 10/25 | Charge: Delta | $ 334 | ||
| 10/30 | Charge: Holiday Fun | $ 74 |
What is the amount owed?
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