# Last month Jimmy purchased a new TV for \$1,800. As a result, on the 14th of June his balance was \$1800. The 15th of June marked the beginning of the next billing period. Jimmy's balance remained \$1,800 for the first half of this billing period (Jun. 15-29). Jimmy then paid his card issuer \$750 on the 29th of June, reducing

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Last month Jimmy purchased a new TV for \$1,800. As a result, on the 14th of June his balance was \$1800. The 15th of June marked the beginning of the next billing period. Jimmy's balance remained \$1,800 for the first half of this billing period (Jun. 15-29). Jimmy then paid his card issuer \$750 on the 29th of June, reducing his balance to \$750 for the remaining 15 days of the period.

Assuming an interest rate of 7.5%, use the adjusted balance method to calculate how much Yoshiro will be charged.

Related Book For

## Horngrens Financial and Managerial Accounting The Financial Chapters

6th edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

ISBN: 978-0134486857