Homework helps?

Posted on 2014-04-23 07:17:00 in Finance by KYMBERLEIGH

Question 1.1. Which of the following is an advantage of using credit cards? (Points : 1)

Credit card accounts charge monthly interest.

It is very easy to charge more than you can pay off each month.

If you pay late, you will be charged a late fee.

They are convenient.





Question 2.2. Any of the balance from the previous month which was not paid is the (Points : 1)

APR.

unpaid balance.

new balance.

minimum payment.





Question 3.3. The percentage charged each month on purchases charged to the credit card account is called the (Points : 1)

periodic rate

new balance

unpaid balance

minimum payment





Question 4.4. Use this information for questions 4-6.

On Kathleen's credit card statement, her last balance was $89.70. She made a payment of $20, had new charges totalling $32.11, and pays a periodic rate of 1.23 percent. What is her unpaid balance?



(Points : 1)

$102.91

$77.59

$101.81

$69.70





Question 5.5. What was Kathleen's finance charge? (Points : 1)

$1.10

$0.86

$1.25

$1.23





Question 6.6. What is Kathleen's new balance? (Points : 1)

$102.67

$122.67

$82.67

$92.67





Question 7.7. Jack's credit card statement showed these items:

Last Balance Payments Finance Rate New Charges

$95.85 $45.00 1.5% $345.90



What is Jack's new balance? (Points : 1)

$494.05

$402.70

$397.51

$448.38

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