Find the finance charge on an unpaid balance of $1219.27 in a revolving charge account if the monthly interest rate is 1.5%. The finance charge is $ (Round to the nearest cent.)
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Q: how long will it take for teh account to be paid off?
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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
A: Information Provided: Balance = $4000 Rate = 16% Payment = $2500 Days it take for payment = 10 Days
Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
A: Information Provided: Balance = $600 Rate = 18% Payment = $550 Term = 10/30 days
Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
A: Given information: Balance amount $3,000 Periodic rate is 17% Payment is $2,500
Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
A: 1. Previous Balance Method = Finance Charge is calculated on the amount which is outstanding at end…
Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
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Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
A: As per previous balance method, the interest is ascertained on the outstanding balance at the end of…
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- The following loan was paid in full before its due date a) Find the value of h using an appropriate formula b) Use the actuarial method to find the amount of unearned interest c) Find the payoff amount Regular Monthly Payment # of Payments Remaining after Payoff APR 7.2% $247 8 What is the finance charge per $100 financed? h=$ (Round to the nearest cent)Find the finance charge on the following open-end charge using the unpaid balance method of calculating interest. Unpaid balance: $1230.40 Annual interest rate: 21.6%Find the finance charge for the givevn charge account given in the table. Assume interest is calculated on the average daily balance of the account. Average Daily Balance Monthly Interest Rate $431.64 1.08% The finance charge for the given account is?
- Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and precentage to one decimal) Amount Financed = 100,000 Number of Payments = 72 Monthly Payment = 2,025.50 SOLVING FOR THE FOLLOWING: Finance Charge = $_________ APR= ___________%Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) Amount Financed = 17,950 Number of Payments = 48 Monthly Payment = 551.47 SOLVE FOR THE FOLLOWING: Finance Charge = $ Finance Charge per $100 = APR =________________ %rive loan is below. Payments of $1,987.26 are made monthly. Payment # Payment 1 1,987.26 2 1,987.26 3 1,987.26 Interest Debt Payment Balance 1,604.17 383.09 1,602.41 384.85 1,600.65 386.61 Provide your answer below: X Y Z Calculate the value of z, the balance of the loan at the end of month 3. Give your answer to the nearest dollar. Do not include commas or the dollar sign in your answer.
- Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,200 10.4 ?? days $224The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $414.84 APR 4.0% Remaining Number of Scheduled Payments after Payoff 18 Click the icon to view the annual percentage rate table. ... (a) h= $3.20 (b) The unearned interest is $ (Round to the nearest cent as needed.)2. A loan of $94028.12 is repaid by monthly payments of $625.75. The interest rate charged is 5.1% compounded monthly. (a) Find the number of monthly payments. (b) What is the total amount of interest paid over the course of the loan?
- Consider a credit card with a balance of $7000. You wish to pay off the credit card in each scenario. Calculate the following. Round your answer to the nearest cent, if necessary.a. The amount of a monthly payment within the time frame givenb. The total amount paid over the time period12. APR of 17.99% paid off within 1 year APR of 24% paid off within 3 yearsUse the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,300 10.4 107 X days $227 Need Help? Read ItFind the finance charge for a charge account with an average daily balance of $1213.58 and a monthly interest rate is 1.547%. Assue interest is calculated on the average daily balance of the account.