Math - Credits & finance charges

On the May 1 billing date, Mary had a balance due of $970.60 on her credit card. The transactions during the following month were:
May 5 Payment $400.00
May 10 Charge: airline tickets $381.00
May 22 Charge: hotel $270.60
May 25 Charge: florist $60.20

The interest rate on the card is 1.2% per month. Using the average daily balance method, find the finance charge and balance due on June 1.

Using the Table format

(1) DATE
(2) CHARGE
(3) PAYMENT
(4) BALANCE
(5) No.OF BALANCE DAYS DOES NOT CHANGE
(6) BALANCE* No. of Days

May 1 Balance is 970.60
May 5 (3)Payment 400 and (4)balance = 570.60 what will be number 5 and 6
May 10 (2)Charge 381 and (4)balance = 951.60 what will be number (5) and (6)
May 22 (2)Charge 270.60 and (4)balance = 1222.20 what will be number (5) and (6)
May 25 (2)Charge 60.20 and (4)balance = 1282.40 what will be number (5) and (6)

Please Help

  1. 👍
  2. 👎
  3. 👁
  1. Can Please Someone help me with this

    Thanks

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Computer Programming

    /* Develop a C program that will determine if a department store customer has exceeded the credit limit on a charge account. For each customer, the following facts are available: a) account number b) Balance at the beginning of

  2. consumer math

    1. Which of the following is an advantage of using credit cards? (Points : 1) Credit card accounts charge monthly interest. It is very easy to charge more than you can pay off each month. If you pay late, you will be charged a

  3. Consumer math

    Could someone please check my answers? Secured Credit APR Excellent 4.75% Good 5.00% Average 5.85% Fair 6.40% Poor 7.50% -------------------------- Unsecured Credit APR Excellent 5.50% Good 5.90% Average 6.75% Fair 7.25% Poor

  4. Maths

    Principal - 6000 Rate - 5% Effective Date - May 15 Maturity Date - November 1 Partial Payment Amount - $1500 Partial Payment Date -August 15 Also Answer the following questions: 1. NUMBER OF DAYS BETWEEN EFFECTIVE DATE AND PARTIAL

  1. Math

    a customer receives a new credit card and makes the following transactions. a cash advance of $1000 on october 10. she then makes $2000 purchase between october 12 and october 21. her due date on the bill is november 3 and yearly

  2. Life Management

    The following are available for assistance with the Lemon Law: a. consumer advocate groups b. departments of your State Attorney General's office c. legal aid d. all of the above*** This Act requires institutions disclose what

  3. Statistics

    At 100 college campuses, 1200 full-time undergraduate students were surveyed on their credit card usage. Among juniors, 65% reported that they didn't have a credit card in their own name, and 23% reported that they had at least

  4. math

    Calculate the interest due on the following credit card balances: A) An unpaid balance of $1629.53 at a rate of 19.50% for 21 days B) An unpaid balance of $2639.99 at a rate of 22.95% for 30 days.

  1. Accounting

    Could someone please look this over and tell me if I have this correct? I am not confident in the Trial Balance. May 1 Cash 101 25,000 Common Stock 311 25,000 3 Supplies 126 2,500 Accounts Payable 201 2,500 7 Rent Expense 729 900

  2. Math

    Monique's credit card charges interest of 20.85% per annum on unpaid balances. On her March 12 statement, she had a balance of $739.65. By the due date, she made the minimum payment (5% or 10.00, whichever is greater)On March 16,

  3. MATH

    You have a credit card that has a balance of $3,589.90 and a credit limit of $5,000. If you have a good credit rating OF 5.90%, how much must you pay at the end of the month to get the balance to the acceptable debt ratio

  4. accounting

    After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debit or a credit balance.

You can view more similar questions or ask a new question.