Question

Use Liam DeWitt's Flash Card statement and the credit calendar for Exercises a-e.

Answer 1

The answers for this task are gotten in most cases by Careful Observation of Liam DeWitt's Bank Account Information.

What is a Bank Account Information?

A bank account information refers to all the details present on or which can be deduced from one's statement or record of banking activities..

Liam's Average Daily Balance is: Total sum of balance each day divided by the number of days. That is
(250+87+1300+470-200+34.76+102.71+45.90+84.60)/9

ADB= $241.66

B) Liam's Monthly Periodic Rate (MPR) is the Annual Interest Rate divided by the number of periods. In this case, that will be:

19.8%/12

MPR = 1.65%

C) Liam's Finance Charge is (Average Daily Balance * APR)/365.

That is (241.66 * 19.8)/365 = 13.11%

D) Liam's New Balance is calculated by removing new inflow from old balance. That is

(250+87.60+1,300+470.63+34.76+102.71+45+848.60)-3,240.5

= $-101.20

E) Liam's Available Line of Credit is clearly stated as $4,000.

See the link below for more about Bank Account Information:

brainly.com/question/15525383