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You had a $1,800 balance last month after your payment on your credit card. You charged one...

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Finance

You had a $1,800balance last month after your payment on your credit card. Youcharged one pair of shoes on the 10th for $180. Yourcard has a minimum finance charge fee of $5 per month and an APR of12%. What is your total balance due this period if the card’s feesare calculated via the adjusted balance method?

Total balancedue

Answer & Explanation Solved by verified expert
3.7 Ratings (369 Votes)
Solution The balance due 1998 Working Notes Adjusted balance method The total balance due Balance of beginning any payments monthly interest or finance charge any purchases made    See Answer
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