Question

please solve 32, 33, and 34 show work! thanks!

M U UTTUU Norest one-halt of a percent. Solve the problem. Show ALL work and round answers to the nearest cent. 32) On the January 25 billing date, Vivian had a balance due of $364.29 on her credit card. The transactions during the following month were: January 26 Charge: curtains $374 January 27 Payment $137.31 February 16 Charge: tires $212.77 The interest rate on the card is 1.5% per month. Using the average daily balance method, find the finance charge on February 25 (January has 31 days). 33) George obtains a 25-year mortgage at 13% on a house selling for $154,000. The bank requires 15% down payment. What is the amount of George's mortgage? 34) Constance Hairston obtains a 20-year, $128,500 mortgage at 12.5% on a house selling for $154,000. Her monthly payment, including principal and interest, is $1459.76. How much of the total cost will be interest?

Answer 1

On January 25 $364.29 Use of Average Daily Balance Method Balance Charge Payment Outstanding No. of Days Product Date January 25 January 26 January 27 February 16 364.29 364.29 1 364.29 738.29 364.29 374.00 738.29 20 12,019.60 738.29 137.31 600.98 212.77 600.98 813.75 7,323.75 Total 31 20445,93 Average Balance Interset Charge -20445.93/31 659.55 -659.55 1.5% 9.89 Please ask other questions seperately...as the questions are not inter linked or not divided into sub parts. I can't provide you multiple solutions at a single ask point