Lucy is charged interest of 19.99% per annum on her credit card	CLR 9	L10 Obj. 4
	Date
Lucy withdrew $300 as a cash advance from her credit card.	01-Dec
Lucy received her credit card statement, showing a minimum balance owing of $10, due by January 12	31-Dec
Lucy paid the minimum balance of $10	12-Jan
Lucy paid the minimum balance of $10	12-Feb
Lucy paid the minimum balance of $10	12-Mar
Lucy paid the full balance owing	01-Apr

a.       Compute the amount of interest charged during the month of December

b.       What is the balance owing at the end of January?

c.       What is the balance owing at the end of February?

d.       What is the balance owing at the end of March?

Answer rating: 100% (QA)

Cash Withdrawal 300 Rate of Interest 1999 PA Note In case of cash ... View the full answer