BUSN 380 study Great Stories/busn380study.com BUSN 380 study Great Stories/busn380study.com | Page 51

$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