Biology Forums - Study Force

Blake earns 3,200 each month. He pays 600 per month for housing, 300 per month for a car loan, and 150 per month in other debt payments. Find Blake's debt-to-income ratio to the nearest tenth of a percent.

Q. 2

Adriana's credit card has an APR of 12.5 for purchases and 21 for cash advances. The company uses the average daily balance method with a daily periodic rate for purchases and cash advances. They also charge an additional cash advance fee of 55 per transaction. In a 30-day billing cycle, Adriana has an average daily balance of 423.92. She took a cash advance of 350.00 during the cycle and must pay finance charges for 23 days. What are her total finance charges?

Q. 3

The credit card statement of Hayden Bolt for February listed these items: 2/1, previous balance, 376.18; 2/5, purchase, 178.66; 2/10, payment, 200.00; and 2/23, purchase, 73.51. The credit card company uses the average daily balance method excluding purchases and a daily periodic rate of 0.000493. Assuming it is not leap year, what is Hayden's finance charge for February and his new balance?

Q. 4

Alice Brontworth's credit card statement for November showed these items: 11/1, previous balance, 121.33; 11/7, purchase, 59.10; 11/11, purchase, 23.27; and 11/17, payment, 110.00. Alice's card company uses a 1.75 monthly periodic rate and the average daily balance method including purchases. What is Alice's finance charge for November and the new balance?

Q. 5

Hernando Fuentes uses a credit card that has a 21.9 APR and uses the adjusted balance method to calculate finance charges. Hernando's statement listed these facts: previous balance, 579.47; new purchases, 229.13; late payment fee, 29.00; payments, 150.00; and credits, 76.39. If the credit card company uses a daily periodic rate, what is Hernando's finance charge and new balance on a 30-day billing cycle?

Content hidden

Helps a lot <3 Now I'm ready for my quiz