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Andonia Hellas Has a Revolving Charge Account

Question 51

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Andonia Hellas has a revolving charge account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the 5-month account activity table for Andonia, rounding to the nearest cent: MonthMayJuneJulyAugustSeptemberPreviousMonth’sBalance$615.00FinanceChargePurchases and Cash Advances $186.25318.1829.17869.9889.50PaymentandCredits$80.00100.00100.00400.00400.00NewBalance\begin{array}{c}\begin{array}{lll}\\\\ \text {Month}\\ \text {May}\\ \text {June}\\ \text {July}\\ \text {August}\\ \text {September}\end{array}\begin{array}{lll}\text {Previous}\\\text {Month's}\\\text {Balance}\\\$ 615.00 \\\\\\\\\\\end{array}\begin{array}{lll}\\\text {Finance}\\\text {Charge}\\\\\\\\\\\\\end{array}\begin{array}{lll}\text {Purchases }\\\text {and Cash }\\\text {Advances }\\\$ 186.25\\ 318.18\\29.17\\ 869.98\\89.50 \end{array}\begin{array}{lll}\text {Payment}\\\text {and}\\\text {Credits}\\\$ 80.00 \\ 100.00 \\100.00 \\400.00 \\400.00 \end{array}\begin{array}{lll}\\\text {New}\\\text {Balance}\\\\\\\\\\\\\end{array}\end{array}

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$615.00; $10.76; $732.01
$732....

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