BUSN 380 help Making Decisions/uophelp.com BUSN 380 help Making Decisions/uophelp.com | Page 43

daily balance for the month including the new purchase is $883. The
average daily balance for the month excluding the new purchase is $750.
Allison's interest rate is 1.5% for the month. Allison's bank calculates
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. 16. (TCO 3) Jerry Dean starts the month with a balance of
$1,500 on his credit card. On the 10th day of the month, he purchases
$200 in clothes with his credit card. On the 15th day of the month, he
makes a payment on his 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. Jerry's
interest rate is 1.5% for the month. Jerry's bank calculates the finance
charge on the credit card by using the previous balance method. What
would Jerry's finance charges be for the month?
$7.50
$13.25
$15.00
$22.50
$18.00
Question 17. 17. (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
Keeping up with the Joneses
The expectation of instant comfort