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Calculate the average daily balance and finance charge?
Calculate the average balance and finance charge
Calculate the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2.?
To calculate the finance charge, multiply the credit card balance by the monthly interest rate. For a balance of $3,299.19 at a monthly rate of 1.2% (0.012), the finance charge is: Finance Charge = $3,299.19 × 0.012 = $39.59. Therefore, the finance charge for that month is approximately $39.59.
Can a company that is not a finance company charge interest and finance charges to someone it has lent money?
Yes.
Your vehicle was repossessed and the finance company charged you ''storage'' fee on the invoice to get your vehicle back can the repo agent still charge for storage?
no because the storage fee that the finance company charged you was what the repo company charged on the invoice. the finance company had no other reason to charge storage fee's they did not store it
How do you calculate finance charge?
multi the unpaid balance by the monthly interest rate
What is done with the finance charge assessed by a credit company?
added to the balance
What is the difference between a service charge and a finance charge?
A service charge is typically a charge for a specific action that a company performs on an account or an order. A finance charge is an amount of interest that is charged on an amount of principal owed by a customer.
What is done with the finance charge assessed by a credit card company?
added to the balance
What is done with the finance charge done by a credit card company?
added to the balance
Can a car finance company charge interest once the principal is paid?
yes it can
Do you have to agree before a company can charge you a finance charge?
You agreed to such action(s) when you signed the contract for the services or items.
Why do finance companies charge such high rates of interest?
If a company has adopted 'Table A', it can charge interest on calls-in-arrears at the rate of
