The activity on Toms credit card is given in the table below for the billing cycle of
Fantastic news! We've Found the answer you've been seeking!
Question:
The activity on Tom’s credit card is given in the table below for the billing cycle of October 12 to November 11. The annual rate is 18%. The starting balance was $4,000. Find (a) the average daily balance and (b) the finance charge.
October 20 | purchase of gas | $55.25 |
October 31 | purchase at restaurant | $102.60 |
November 4 | purchase of groceries | $200.05 |
November 8 | payment on credit card | $3000.00 |
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: