Tara Fields' credit card company uses the previous balance method to calculate finance charges. It has an APR of 17 and uses a monthly periodic rate rounded to the nearest ten-thousandth. Tara's credit card statement for April showed a previous balance of 281.67, new purchases and fees of 112.93, and payments and credits of 200.00. What is Tara's finance charge for April and her new balance?
Q. 2Michael Lane checked his credit card statement and noticed a sale for 82.99 that was unauthorized. He also found that a sale for 52.87 had been listed as 58.27. If the new balance on his statement was 310.65, what is his correct new balance?
Q. 3Kurt borrowed 225 for 18 days on his credit card using a cash advance. His credit company charged a cash advance fee of 12 and a daily periodic interest rate of 0.054. What was the total finance charge on the cash advance?
Q. 4Michelle Peterson's credit card statement for the month of December showed a membership fee of 40, a late fee of 15, a finance charge of 11.72, and an over-the-limit fee of 14. What was the total cost of the card to Michelle in December?
Q. 5The ___________________ is the interest calculated for one time period for a credit card.
Fill in the blank(s) with correct word
Q. 6The ___________________ is a document from the credit card company which outlines the costs associated with using their card.
Fill in the blank(s) with correct word
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