Solved

You Have a Credit Card with NewBank

Question 94

Multiple Choice

You have a credit card with NewBank.Calculate the new balance as of January 10 after considering the finance charge for the month which is a 1.5% monthly rate based on the average daily balance and the following purchases/payments.Your outstanding balance on December 10th is $423 and your statement extends from December 10 through January 10.
You have a credit card with NewBank.Calculate the new balance as of January 10 after considering the finance charge for the month which is a 1.5% monthly rate based on the average daily balance and the following purchases/payments.Your outstanding balance on December 10th is $423 and your statement extends from December 10 through January 10. A) $1,346.52 B) $1,348.20 C) $1,328.00 D) $41,742 E) none of the above


A) $1,346.52
B) $1,348.20
C) $1,328.00
D) $41,742
E) none of the above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q89: Louis is evaluating a Treasury Bill.It is

Q91: Emma is evaluating a Treasury Bill.It is

Q92: Roxy is evaluating a Treasury Bill.It is

Q93: Roxy is evaluating a Treasury Bill.It is

Q93: Roxy is evaluating a Treasury Bill.It is

Q95: A zero-balance account is designed to:
A) provide

Q96: Integrated accounts payable:
A) provide early notification of

Q97: Emma is evaluating a Treasury Bill.It is

Q98: Emma is evaluating a Treasury Bill.It is

Q99: Controlled disbursement is designed to:
A) provide early

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents