For the month of July, the unpaid balance on Sue's credit card statement was $1001.66 at the
Fantastic news! We've Found the answer you've been seeking!
Question:
For the month of July, the unpaid balance on Sue's credit card statement was $1001.66 at the beginning of the billing cycle. She made purchases of $455.33 . She also made a payment of $700.57 during the month. If the interest rate was 1.85% per month on the unpaid balance, determine the finance charge and the new balance on the first day of the August billing cycle. Round the answers to the nearest cent.
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
Posted Date: