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What is the balance owing at the end of January

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Reference no: EM132993364

Question - Lucy is charged interest of 19.99% per annum on her credit card

Lucy withdrew $300 as a cash advance from her credit card. 1-Dec

Lucy received her credit card statement, showing a minimum 31-Dec balance owing of $10, due by January 12

Lucy paid the minimum balance of $10 12-Jan

Lucy paid the minimum balance of $10 12-Feb

Lucy paid the minimum balance of $10 12-Mar

Lucy paid the full balance owing 1-Apr

Required -

a. Compute the amount of interest charged during the month of December.

b. What is the balance owing at the end of January?

c. What is the balance owing at the end of February?

d. What is the balance owing at the end of March?

Reference no: EM132993364

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