Macs credit card statement included $360 in cash advances and $3.20 in interest charges. The interest rate

Question:

Mac’s credit card statement included $360 in cash advances and $3.20 in interest charges. The interest rate on the statement was 13.5%. For how many days was Mac charged interest?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

See More Books

Question Posted: Feb 26, 2016 03:39 AM

See More Questions

For how many days in 2015 could Stowe continue to operate if its production were suspended? STOWE ENTERPRISES Sales Cost af goods sold Depreciation Earnings before interest and taxes Interest paid...
Bill filed his income tax return with the Canada Revenue Agency (CRA) after the April 30 deadline. He calculated that he owed the CRA $3448, but did not include a payment for this amount when he sent...
The trial balance of Pacilio Security Services Inc. as of January 1, 2021, had the following normal balances: Cash ..................... $113,718 Petty cash ................... 100 Accounts...
Rachael Ray Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock for $20,000. 3. Recorded depreciation of $17,000. 4. Paid salaries of $9,000....
a. Explain the advantages of using insurance in a risk management program. b. Explain the disadvantages of using insurance in a risk management program.
A line contains the points (82, -96) and (87, -86). What is the slope of the line in simplified form? Enter your answer in the box.
A four cylinder, four stroke cycle petrol engine develops $40 \mathrm{~kW}$ at $2500 \mathrm{rpm}$. The mean effective pressure is $0.8 \mathrm{MPa}$ and mechanical efficiency is $80 \%$....
Define halo error. How can halo error inhibit selecting the best strategies to pursue?
Pina Colada Company buys merchandise on account from Pina Colada Corp.. The selling price of the goods is $1,350, and the cost of the goods is $950. Both companies use perpetual inventory systems....
Please solve this problem using C language Hacker Industries has a number of employees. The company assigns each employee a numeric evaluation score and stores these scores in a list. A manager is...
Annes Dress Shop borrowed $3200 to buy material. The loan was paid off seven months later by a lump-sum payment that included $168 of interest. What was the simple rate of interest at which the money...
On August 15, 2015, Low Rider Automotive established a line of credit at its bank, with interest at 8.75% p.a. This line of credit was used to purchase $5000 of inventory and supplies. Low Rider paid...
In Exercises find a geometric power series, centered at 0, for the function. h(x) = 3 2 + x
Presented below is information related to Manama Company. Beginning inventory Purchases Markups Markup cancellations Markdowns Markdown cancellations Sales Sales returns Cost Retail $380,000 $400,000...
Explain how Advanced Planning and Scheduling systems and Electronic Data Interchange can assist Toyot?
If a tax Bear has a vacation home, that is issues personally by the taxpayer for part of the year, and as a rental for part of the year, how are expenses reported on its tax return?
Using income statement data for Neros, prepare a December income statement dated December 3 1 . 1. If Neros pays a cash dividend to its sole stockholder to pay for a family vacation, how is this...
I have a presentation to reflect on the case of Recovering Trust after corportae misconduct at Walls Fargo" on the following question " in what ways was the fraud triangle to blame for the bad...
Let X be a continuous random variable with values between A = 1 and B = , and with the density function f (x) = 4x-5. (a) Verify that f (x) is a probability density function for x 1. (b) Find the...
Which one of the following anhydrous chloride is not obtained on direct heating of its hydrated chloride? (A) BaCl2 (B) CaClz (C) MgCl2 (D) SrCl2
During a golf match, a certain number of points are awarded for each eagle and a different number for each birdie. No points are awarded for par, and a certain number of points are deducted for each...
The dissolution of copper sulfide in aqueous nitric acid is described by the following chemical equation: where the coefficients a, b, c, d, e,J, and g are the numbers of the various molecule...
The wind chill temperature, Twc, is the air temperature felt on exposed skin due to wind. In U.S. customary units it is calculated by: Twc = 35.74 + 0.6215T- 35.75v0.16 + 0.4275Tv0.16 where T is the...
Assume that management wants wage concession from its counterpart labor union. Explain why this often leads to disputes. Suppose management gives up some of its future negotiating power by subjecting...
Why have you chosen this nursing Field of Specialization or Major? What influenced you in selecting your intended major of study and what goal(s) have you set for the future?
What are logical fallacies and how can they affect our decision-making?

Macs credit card statement included $360 in cash advances and $3.20 in interest charges. The interest rate

Question:

Step by Step Answer:

Answer to question Assume interest rate given in question ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions