Credit Card Statement Questions

The summary portion of Manny Ramira’s credit card statement is shown. Determine the new balance amount.

Lizzy has a credit line of $9,000 on her credit card. Her summary is shown. What is her available credit balance?

Determine the error that was made using the following summary statement.

• Added Payments/Credits

• Didn't include previous balance

• Subtracted Transactions

• No error

Marianne has a credit card with a line of credit at $15,000. She made the following purchases: $1,374.90, $266.21, 39.46, and $903.01. What is Marianne’s available credit?

• $12,416.42

• $13,416.42

• $14,416.42

• $15,000.00

Luke has a credit line of $8,500 on his credit card. He had a previous balance of $4,236.87 and made a $3,200.00 payment. The total of his purchases is $989.42. What is Luke’s available credit?

The APR on Ramona’s credit card is currently 24.6%. What is the monthly periodic rate?

• 2.05%

• 2.10%

• 2.15%

• 2.20%

Sheila’s monthly periodic rate is 2.41%. What is her APR?

• 28.92%

• 24.12%

• 29.92%

• 26.92%

Examine the summary section of a monthly credit card statement. What is the new balance?

Use the credit card statement to answer the questions below. How many purchases (debits) were made during the billing cycle?

• 2

• 5

• 8

• 10

Use the credit card statement to answer the questions below. What is the sum of all purchases (debits) made during the billing cycle?