John borrowed $1200 from his credit union at 18% simple interest. He agrees to repay the loan by making
30 equal monthly payments.
11. How much is the finance charge? (Remember interest rate and time must have matching units.)
12. How much is the monthly payment?
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For the billing period from 4/25 to 5/24, John’s credit card carried the following balances:
Dates Balance
4/25 – 5/8 $300.00
5/9 – 5/13 $400.00
5/14 – 5/24 $500.00

Question

John borrowed $1200 from his credit union at 18% simple interest. He agrees to repay the loan by making
30 equal monthly payments.
11. How much is the finance charge? (Remember interest rate and time must have matching units.)
12. How much is the monthly payment?
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For the billing period from 4/25 to 5/24, John’s credit card carried the following balances:
Dates Balance
4/25 – 5/8 $300.00
5/9 – 5/13 $400.00
5/14 – 5/24 $500.00

pphalke · Answer

13. What is the average daily balance for the billing period?
14. Assume the credit card has an APR of 14.6%. How much is the finance charge for the billing period?
15. What will be the new balance on 5/25?
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pphalke · Answer

NUMBER 14 IS WRONG CAN I GET HELP FAST PLEASE I PUT 4.75 IS IT RIGHT

pphalke · Answer

I HAVE SIX MINS LEFT PLEASE HELP