Question

Joel Bastos recently received his monthly MasterCard bill for the period June 1–30, 2015, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 15 percent per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows:
Previous Balance: ...... $386
Purchases:
June 4 .......... $137
June 12 .......... 78
June 20 .......... 98
June 26 .......... 75

Payments:
June 21 ........... $35

What is his ADB and the finance charge for the period?



$1.99
Sales0
Views60
Comments0
  • CreatedFebruary 13, 2015
  • Files Included
Post your question
5000