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the finance charge on the credit card by using the adjusted balance
method. What would Allison's finance charges be for the month?
$7.50
$9.00
$11.25
$13.25
$16.50
Question 16. Question : (TCO 3) Sarah Russell starts the month with a
balance of $1,000 on her credit card. On the 10th day of the month, she
purchases $200 in clothes with her credit card. On the 15th day of the
month she makes a payment on her credit card of $500. The average
daily 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?
$7.50
$13.25
$18.00
$15.00
$11.25
Question 17. Question : (TCO 3) If Sarah goes out and spends $600 in
new clothes for herself, putting it all on her credit card after her husband
returns at 4 a.m. the previous morning from a night on the town, this is
an example of which of the following?
Misunderstanding or lack of communication