Question: Please show the work. 12. Using the average daily balance method and the information given, find the credit card finance charge for the month of

Please show the work.

Please show the work. 12. Using the average daily balance method and

12. Using the average daily balance method and the information given, find the credit card finance charge for the month of August (31 days). The annual interest rate is 18%. July 31 August 14 August 16 August 18 August 23 Balance Charge Payment Charge Charge $220 $93 $210 $142 $43 The finance charge is $ (Round to the nearest cent.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Using the average daily balance method and the information given, find the credit card finance charge for the month of August (31 days). The annual interest rate is 18%. ... Question content area top...

Using the average daily balance method and the information given, find the credit card average daily balance for the month of August (31 days). The annual interest rate is 18%. (Round to the nearest...

Using the average daily balance method and the information given, find the credit card finance charge for the month of August (31 days). The annual interest rate is 18%. The finance charge is

using The average Using the average daily balance method and the information given, find the credit card average daily balance for the month of August (31 days). The annual intrest rate is 18%

Please help me with my project, thank you!! Due NOTE: PUT ALL FINAL WORK ON YOUR PROJECT_NO SCRATCH ATTACHED! 1. Credit Cards Charges and Payments Credit cards are open-ended accounts, because the...

Please ~ How can I do the average daily balance sheet ??? ACTIVITY 7 Computing the is that offer standing balan C orsing methods the avera nach day in the w as the purcha The followin men for lohi...

I just need an explanation with the answer on number 23. Thanks 23) On the July 5 billing date, David had a balance due of $847.34 on his credit card. The 23) transactions during the following month...

Situation #2: Credit Card Bills Show all work, even the work you put into the calculator. The majority of points given will be for your work, not for the answer Assume you open a credit card at the...

Situation #2: Credit Card Bills Show all work, even the work you put into the calculator. The majority of points given will be for your work, not for the answer. Date Assume you open a credit card at...

Eli Lilly Interim Reports On April 18, 2011, Eli Lilly and Co. reported first quarter profits for 2011 of $0.95 per share. Analysts projected earnings to be $1.16 or $1.17 per share. However, Lilly...

Assume you are the owner of The Blues Inc., an international manufacturer of electronic products, and you are contemplating introducing a new type of Blue Ray player. After considering the potential...

Tiempo restante 0 : 5 5 : 3 1 In an efficient market, the expected abnormal return on a security is: Seleccione una: A . equal to zero. B . equal to the risk - free rate of return. C . equal to the...

A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments. January February March Cash receipts $1,061,200 $1,182,400 $1,091,700 Cash...