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23. Use the credit card statement and a blank credit card calendar.

23. Use the credit card statement and a blank credit card calendar.a. What is the total of all of the purchases made this billing cycle?
b. What is the amount of total payments?
c. What is sum of the daily balances?
d. What is the average daily balance? Round to the nearest cent.
e. What is the monthly periodic rate?
f. What is the finance charge?
g. What is the new balance?
h. What is the new available credit?

Final answer:To answer the given questions about credit card statements, you need the credit card statement and a blank credit card calendar. You can find the total of all purchases made this billing cycle by adding up the purchase amounts on the statement. The amount of total payments can be found by referring to the credit card statement. The sum of the daily balances can be calculated using the blank credit card calendar. The average daily balance can be found by dividing the sum of the daily balances by the number of days in the billing cycle. The monthly periodic rate can be calculated by dividing the annual percentage rate (APR) by 12. The finance charge is usually calculated by multiplying the average daily balance by the monthly periodic rate. The new balance is the remaining amount owed on the credit card after subtracting the total payments made from the total purchases. The new available credit can be calculated by subtracting the new balance from the credit limit mentioned in the credit card statement.Explanation:To answer the given questions, we need the credit card statement and a blank credit card calendar. Let's go through each question step by step:a. What is the total of all of the purchases made this billing cycle?To find the total of all the purchases made this billing cycle, we can use the credit card statement. Add up all the purchase amounts and that will give you the total.b. What is the amount of total payments?To find the amount of total payments, again refer to the credit card statement and find the total amount paid during this billing cycle.c. What is the sum of the daily balances?To find the sum of the daily balances, you'll need the blank credit card calendar. Add up the daily balances for each day in the billing cycle.d. What is the average daily balance? Round to the nearest cent.To find the average daily balance, divide the sum of the daily balances by the number of days in the billing cycle. Round the answer to the nearest cent.e. What is the monthly periodic rate?The monthly periodic rate can be calculated using the annual percentage rate (APR) mentioned in the credit card statement. Divide the APR by 12 to get the monthly periodic rate.f. What is the finance charge?The finance charge is the cost of borrowing money from the credit card company. It is usually calculated by multiplying the average daily balance by the monthly periodic rate.g. What is the new balance?The new balance is the remaining amount owed on the credit card after subtracting the total payments made from the total purchases.h. What is the new available credit?The new available credit is the maximum amount of credit you can still use on the credit card. It is usually calculated by subtracting the new balance from the credit limit mentioned in the credit card statement....

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