Answer:
$11,977
Explanation:
The difference between the balance of the total checks written and balance of the total checks presented for withdrawal gives the amount outstanding.
As such, amount of outstanding checks at the end of December is the net of the balance of the checks written in November and December and the balance of the checks presented in the same period.
This is
= $43300 + $59239 - $39630 - $50932
= $11,977
Answer:
monthly payment = (total amount owing+interest to be paid) / 12 months
Explanation:
Monthly repayments include the total amount owing on the credit card, plus the interest to be paid. This amount should then be divided into 12 monthly payments in order to get one constant amount to be paid each month for the 12 month period. We will assume there are no other factors affecting the amount, other than interest.
The formula to calculate the monthly repayments in the credit card is as follows:
(total amount owing + interest) / 12 months
For example, say the amount owing was $100 and the total interest to be paid was $20; the monthly repayment would be calculated as ($100+ $20) / 12 months. This would mean the credit card holder pays $120/12 = $10 per month in order to repay the debt.
True Some no activist believe in a predetermined money growth rate
