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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
The use of money to punish
Question 18. 18. (TCO 3) One day, Gary notices that is neighbor has
purchased a new Land Rover and it is sitting in his driveway. Gary