Statement for april for her mastercard account

Assignment Help Financial Management

Reference no: EM131016040

Kayla Sampson, an antiques dealer from Great Bend, Kansas, received her monthly billing statement for April for her MasterCard account. The statement indicated that she had a beginning balance of $650, on day 5 she charged $150, on day 12 she charged $300, and on day 15 she made a $200 payment. Out of curiosity, Kayla wanted to confirm that the finance charge for the billing cycle was correct (assume a 30-day month and that the card balance is actually reduced on the day the payment is made).

1) What was Kayla's average daily balance for April without new purchases? Round your answer to the nearest dollar. Use rounded answer for later calculations.

Reference no: EM131016040

Questions Cloud

Example of which economic downturn process : You are a rancher who purchased cattle last summer. The purchase price was $2,500 for two head of cattle (2 cows). You borrowed $30,000 at 4% interest for 1 year from your bank to purchase 12 head of cattle. After feeding and taking care of your 12 c..

Settled an insurance claim : You just settled an insurance claim. The settlement calls for increasing payments over a five-year period. The first payment will be paid one year from now in the amount of $7,000. The following payments will increase by 3.5 percent annually. What is..

Difference in present value if you receive these payments : You are scheduled to receive annual payments of $10,000 for each of the next 24 years. Your discount rate is 8 percent. What is the difference in the present value if you receive these payments at the beginning of each year rather than at the end of ..

New sports car from muscle motors : You want to buy a new sports car from Muscle Motors for $84,000. The contract is in the form of a 60-month annuity due at an APR of 7.55 percent. What will your monthly payment be?

Statement for april for her mastercard account : Kayla Sampson, an antiques dealer from Great Bend, Kansas, received her monthly billing statement for April for her MasterCard account. The statement indicated that she had a beginning balance of $650, on day 5 she charged $150, on day 12 she charged..

What price would you estimate for stock : Halliford Corporation expects to have earnings this coming year of $2.63 per share. Halliford plans to retain all of its earnings for the next two years. For the subsequent two years, the firm will retain 49% of its earnings. It will then retain 23% ..

They influence the choice of analysis technique : The analysis technique of BPA, BPI, and BPR is selected based on several characteristics of the project. What are these characteristics and how do they influence the choice of analysis technique?

Calculate its average and marginal costs for volume ranging : Sweetwater Nursing Home has 150 beds. Its cost and volume data are as follows. Calculate its average and marginal costs for volume ranging from 100 to 140. What patterns do you see? How would the average and marginal costs change if the phlebotomist’..

Maximizes per-share stock price of stephensons equity : Stephenson Real Estate Company was founded 25 years ago by the current CEO, Robert Stephenson. The company purchases real estate, including land and buildings, and rents the property to tenants. Suppose Stephenson decides to issue equity to finance t..

User Account

All Pages