Question

The balance on Ted's credit card on August 9, the billing date, was $1,298.51. for the period ending September 8, he made the following transactions. assume an APR of 3.9%

I need help

Answer 1

@Photon336 @peachpi @jim_thompson5910 @Anaise

Answer 2

you forgot to post the balances

Answer 3

August 14, Payment $350.00
August 22, Charge: Gasoline, $39.92
August 29, Charge: Groceries, $87.17

Answer 4

ok thanks, one moment

Answer 5

From Aug 9 to Aug 13, the balance is $1,298.51
This is a period of 5 days (13-9+1 = 5)



From Aug 14 to Aug 21, the balance is $948.51 (1298.51-350 = 948.51)
This is a period of 8 days (21-14+1 = 8)



From Aug 22 to Aug 28, the balance is $988.43 (948.51+39.92 = 988.43)
This is a period of 7 days (28-22+1 = 7)



From Aug 29 to Sept 8, the balance is $1,075.6 (988.43+87.17 = 1075.6)
This is a period of 11 days (3 days from Aug 29 to Aug 31; 8 days from Sept 1 to Sept 8)



Do you agree with these statements?

Answer 6

@pphalke let me know if you're stuck anywhere

Answer 7

yes I agree to these statements

Answer 8

@jim_thompson5910

Answer 9

@jim_thompson5910 please help what doi do next