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Under what circumstances (be specifi c) would you:
a. Prefer Western Trust over Northern National?
b. Prefer EastBancorp over Western Trust?
c. Prefer Southern Mutual over EastBancorp?
d. Prefer Southern Mutual over Northern National?F. Grab BagAssume a 20-day grace period in each of the following problems.- A clothing store accepted a debit card payment for $127.49 in merchandise. The commission charged was 75 cents
plus 1.4%. How much did the store actually receive? - Brad’s credit card billing period ends on the seventh of each month. On August 7, his balance was $915.79. The table
below shows the activity on his account for the following month:
Date ActivityAugust 12 Charged $204.15
August 14 Charged $9.75
August 23 Paid $915.79
August 30 Charged $54.08The interest rate on his card is 18.99%. How much interest will he owe on his September 7 statement? What will his
total balance be on that statement?- Karen’s credit card billing period ends on the eighth day of each month. The interest rate is 17½%. On March 8 her
balance was $454.19. She charged $70.22 on March 21, $98.76 on March 23, and $211.98 on April 6. She made
a payment of $150 on March 20. Organize this information in a table, and then use it to complete the following
calculations. For the billing period ending on April 8, fi nd (a) her ADB, (b) the interest for this billing period, and (c) her
total balance at the end of the billing period. - I am looking around for a Visa card, and have narrowed my choices to three different banks. Each offers a different
annual fee and interest rate, as given in the table below:
Card Issuer APR Annual FeeKashong Trust 21.99% None
Crooked Lake Savings and Loan 15¾% $55
Dresden Credit Bank 17.25% $20a. Which card will be the least expensive for me if I am a convenience user?
b. Which card will be least expensive if I carry a balance of $725 on average?
c. Which card will be the least expensive if I carry a balance of $2,500 on average?
d. How large of an average balance would I need to carry to prefer Crooked Lake?
e. What sort of average balance would I need to carry to prefer Dresden Credit?- Rikki’s credit card bill is produced on the 19th of each month. On January 19 her balance was $454.02. She made charges
of: $175.96 on January 25, $34.44 on January 27, $303.12 on February 15, and $17.73 on February 18. She made a
payment of $400.00 on February 3. Her card carries a 17.99% interest rate. Find the total balance for her February 19 bill.
Exercises 10.1 431