Reference no: EM131748994

Question: Joe is buying some kitchen equipment for his new apartment the total cost is 3700 and he places a down payment of 370 there is add on interest of 9 percent find the total interest joe will pay it takes him 3 years to pay for his purchase. Find the finance charge on the open end charge account assume interest is calculated on the u paid balance if the account Unpaid balance monthly interest rate $912.60 1.39%.

Annette has a bank card her billing date is July 4 the balance due at the date was 879 she sent a payment of 400 which the bank revived July 12 she made a new purchase on July 31 for 200. What will the finance charge be for august 4 if the bank charges 1.3 percent per month and uses the unpaid balance method.