Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long.
$500 balance, 17%, $50 payment
previous balance method, adjusted balance method and average daily balance method?
Can you just tell me where to start please?
2 answers
I don't see what this has to do with being engaged.
I see that you start w/ this formula. i=prt I got it thanks though.
so the previous is 500 (.17)(1/12)=
$7.08
and adjusted would be 500-50= 450(.17)(1/12)=$6.38
however the last one I cant get...I guess I'll figure it out
so the previous is 500 (.17)(1/12)=
$7.08
and adjusted would be 500-50= 450(.17)(1/12)=$6.38
however the last one I cant get...I guess I'll figure it out
0 answers