BUSN 380 Course Great Wisdom / tutorialrank.com BUSN 380 Course Great Wisdom / tutorialrank.com | Page 33

balance for the month including the new purchase is $883. The
average daily balance for the month excluding the new purchase is
$750. Sarah's interest rate is 1.5% for the month. Sarah's bank
calculates the finance charge on the credit card by using the average
daily balance, excluding new purchases. What would Sarah's finance
charges be for the month?
Question 17. If Jeff rushes to purchase a home by obtaining an
interest-only loan, and the reason why he wants a home is because he
wants to have a house just like the one that his parents had when he
was a teenager, this is an example of which of the following?

Question 18. Over time, which method of payment is likely to be the
least expensive?
Question 19. In terms of borrowing expenses, which of the following
options would be relatively the cheapest?
Question 20. If Marjorie Wilcox borrows $200 for 1 year with an
APR of 12% and an annual service fee of $10, what is her total cost of
credit?
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BUSN 380 Week 4 Assignment Project 1 Job Search and
Personal Budget (2 Projects)
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Using your income from your current job or using income from a
future job that you are planning on having after graduating from
college, construct a budget.