What is the current balance that Joe Doe owes

1. What is the current balance that Joe Doe owes? $1270.54

2.What is the total amount that Joe charged for this billing cycle?

a. List the purchases that Joe made.

3. How much did Joe pay for his last payment?

4. Why was Joe charged $35 by the credit card company?

5. How much interest was Joe charged for this month?

6. What is the credit limit that Joe has for this credit card?

a. What is Joe’s available credit?

7. What is APR for purchases for this credit card?

8. What is the minimum payment amount that Joe must make?

9. When is the due date for Joe to make a payment?

10. Did Joe take a cash advance on this credit card?

11.Why did you think the federal government requires that financial institutions place a “Total Minimum Payment Warning” on all credit card statements? Transcribed Image Text: ll AT&T
2:52 PM
48%
Directions: Use the credit card statement to answer
the questions on the following page.
Summary of Account Activity
Payment Information
$1270.54
$25.00
4/29/19
Current Balance…..
Previous Balance
Payments….
Other Credits
Purchases
Balance Transfers
Cash Advances .
$1000.00 Minimum Payment Due
$500.00
$0.00
$725.00
$0.00
$0.00 receive your minimum payment by the date
$0.00 listed above, you may have to pay a $35 late
$35.00 fee and your APRa may be increased up to
$10.54 the penalty APR of 28.99%
Payment Due Date….
Late Payment WVarning: If we do not
Due Amount.
Fees Charged.
Interest Charged
Current Balance
Credit Limit
Available Credit
Statement Closing Date
Days in Billing Cycle.
$1270.54
Total Minimum Payment Warning: If you
$5000.00 make only minimum payments, you will pay
$3729.46
04/2019 more and it will take longer to pay off your
balance. For example:
30
Questicas! Call Customer Service…I-800-xXX-
Lost or Stolen Credir Card.1-S00-K-XXX
• if you pay only the minimum
payment it wil take 93 monthe to pay
off and you will have paid $1891.33
TRANBACTION BUMMARY
Date
Description
Reference
Charges
Credits
3/25
Grocery Land
$142.00
3/27
Book Store
XX99900XX9
$33.00
4/1
Restaurant
$125.00
4/19
Payment
$500.00
4/19
Bob’s Auto
XX99900X9
$425.00
Fees and Iuterest
$35.00
$0.00
$0.00
$0.00
10.54
FINANCE CHARGE CALCULATION
Late fees
Balance transfer feen
Purchases @ 13.99% APR: $0.00
Balance Transfers @ 13.99% APR: $O.00
Cash advance fees
Total fees for this period
Total interest for i
Cash Advances @ 25.99% APR: $0.00
period
Send Payment to:
Blue CARD SERVICES
PO BOX 999
MONEYVILLE, MA 99999-9999
Account Number 9999 5555 9999 s555
Payment Due Date: 4/29/2019
New Balance Total: $1270.54
Current Payment Due: $25.00
Amount Enclosed $
ANALYSIS
John Doe’s Credit

-25-


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