Suppose that on June 1, you have a credit card balance of $660.00. On June, 5,...
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Suppose that on June 1, you have a credit card balance of $660.00. On June, 5, you make an Amazon purchase of $139.00. On June 15, you make another purchase of $58.00 at Costco. On June 22, you make a payment of $600.00. On June 26, you make a return at Target of $190.00. The annual interest rate on your credit card is 30%. Calculate the finance charge for June that will appear on the next month's statement, using the unpaid balance method. Round your answer to the nearest cent. Suppose that on June 1, you have a credit card balance of $660.00. On June, 5, you make an Amazon purchase of $139.00. On June 15, you make another purchase of $58.00 at Costco. On June 22, you make a payment of $600.00. On June 26, you make a return at Target of $190.00. The annual interest rate on your credit card is 30%. Calculate the finance charge for June that will appear on the next month's statement, using the unpaid balance method. Round your answer to the nearest cent.
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To calculate the finance charge for June using the unpaid balance method we need to consider the ave... View the full answer
Related Book For
Accounting Principles Part 2
ISBN: 978-1118306796
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
Posted Date:
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