Credit Cards Test (A)

What is the average daily balance?

• 144.64

• 164.44

• 146.44

• 104.64

What is the finance charge?

• 2.01

• 3.01

• 4.01

• 5.01

What is the new balance?

• 105.60

• 106.50

• 165.50

• 155.60

What is the average daily balance?

• 1414.60

• 1441.60

• 1144.06

• 1604.41

What is the periodic rate?

• 2.55

• 3.67

• 2.41

• 3.21

What is the average daily balance? For billing period, use dates 7/22 to 8/21

• 2564.20

• 2654.02

• 2465.20

• 2449.02

What is the finance charge? Use dates 7/22 to 8/21

• 25.60

• 56.20

• 26.50

• 62.05

Vincent had these daily balances on his credit card for his last billing period. He did not pay the full amount the previous month, so he will have to pay a finance charge. The APR is 19.2%

Nine days @ $778.12

Eight days @ $1,876.00

Four days @ $2,112.50

Ten days @ $1,544.31

What is his average daily balance?

• 1478.80

• 1048.78

• 1840.87

• 1480.78

Jason lost his credit card. He notified his creditor before the card was used. However, late in the day, someone charged $700 worth of clothing on it. How much is Jason liable for?

• 50.00

• 0

Stacey had her card stolen, but did not realize it until 3 days later. She notified her credit card company, but someone had charge $2,000 on her card. How much is Stacey liable for?

• 50.00

• 0