Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the account activity table for Kathy.PreviousFinancePurchasesNew BalancePaymentsand CreditsMonth'sCharge(in $)Monthand CashEnd of MonthBalanceAdvances(in $)March$720.00$123.97$95.00

Finance charge = Previous month balance * Annual percentage rate / 12 New Balance end of month =…

Answered: New Balance End of Month Finance Charge…

New Balance End of Month Finance Charge (in $) Purchases and Cash Payments and Credits Advances (in $) $123.97 $95.00 %24

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the account activity table for Kathy.
Previous
Finance
Purchases
New Balance
Payments
and Credits
Month's
Charge
(in $)
Month
and Cash
End of Month
Balance
Advances
(in $)
March
$720.00
$123.97
$95.00

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Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. Month PreviousMonth'sBalance FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) March $720.00 $ $122.97 $75.00 $
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month PreviousMonth'sBalance(in $) FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) April $641.17 $11.22 $31.45 $85.00 $598.84 May $283.33 $135.00
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