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Linda received a credit card through the mail The interest rate charged by the credit card company is 24.9 percent If she maintains an average balance of 2400 owed on the card how much will she have?
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∙ 14y ago
$597.60
Wiki User
∙ 14y ago
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If Marty maintains an average balance of 3500 dollars on a credit card that he uses only for necessary purchases and the bank charges 19.9 percent interest how much interest will he pay?
He pays $696.50 interest.
Marty uses a credit card for only necessary purchases. The interest rate charged by the credit card company is 19.9 percent . If he maintains an average balance of 3500 owed?
696.50 (A+)
Interest is charged on the average daily balance on your charge card with the?
Average daily balance method
What is the average interest rate on a balance transfer credit card?
The average interest rate on this type of card is about 14 percent. This of course varies by indivdual financial situation.
Assuming a 30-day period in November calculate November's interest using the average daily balance method?
Use this simple formula: I=Average daily balance times the interest rate, divided by 366 times 30 days in November.
If Marty maintains an average balance of 3500 dollars on a credit card that he uses only for necessary purchases and the bank charges 19.9 percent interest how much interest will he pay?
He pays $696.50 interest.
How much interest will Linda pay per year if her credit card has a 24.9 percent interest rate and she maintains an average balance of 1800.00?
Interest due = 24.9% of 1800 = 1800*24.9/100 = 448.20
Is interest income is debit or credit?
Interest income would be a credit entry, as it increases a form of revenue. If the interest income is received in cash, the entry would be: Dr Cash Cr Interest income If the income was not yet received but will be at a later date, the entry would be: Dr Interest receivable Cr Interest income In either case, the Interest income account would be credited.
Marty uses a credit card for only necessary purchases. The interest rate charged by the credit card company is 19.9 percent . If he maintains an average balance of 3500 owed?
696.50 (A+)
Interest is charged on the average daily balance on your charge card with the?
Average daily balance method
Which type of checking account pays interest on the mean balance of the account during a particular cycle?
Average Balance account
Where does accrued interest on notes receivable go on a balance sheet?
Accrued interest which is to be received within 12 months is a current asset.
What set of values is used to recommend the average calorie intake that maintains population groups in energy balance?
Estimated Energy Requirement
What is the average interest rate on a balance transfer credit card?
The average interest rate on this type of card is about 14 percent. This of course varies by indivdual financial situation.
What is the functionof the cerebellum?
It maintains balance or equilibrium.
Assuming a 30-day period in November calculate November's interest using the average daily balance method?
Use this simple formula: I=Average daily balance times the interest rate, divided by 366 times 30 days in November.
I don't understand how much interest will I draw on $50/ for one year?
Each month the bank calculates your average daily balance times the interest rate. Seeing that each month you will gain money from interest being paid out, your average daily balance will be higher. The more money to calculate the interest rate against, the higher the payout.
