Financial Literacy Test on Wednesday. Multicultural luncheon on Friday. Bring food, paper/plastoc plates and forks
30 TAPS, 25 x 0.50 = 12.50 4 e-transfers x 0.25 = 1.00
5 cheques x 3.50 = 17.50 2 ATM x 2 = 4.00
1 Bank withdraw x 5.50 = 5.50 Not enough fund by the end of Nov, $25
25 + 12.50 + 17.50 + 5.50 + 1.00 + 4.00 = $65.50
Part D: Credit Cards, Debit Cards and Compound Interest
- add the Interest Charge column to make it easier
Most credit cards charge 20% for outstanding balance (purchases that have not been paid back). The interest will be accumulated daily.
Assuming the chart below is the Google Sheet, write down the formula needed to calculate the interest accumulated on November 10.
E | F | G | H | I | |
15 | Date | Charges | Interest rate | Interest Charges | Total |
16 | November 5, 2022 | $876.54 | 23.99% | Question 15 formula | |
17 | November 6, 2022 | Question 16 formula | 23.99% | Question 17 formula | |
18 | November 7, 2022 | 23.99% | |||
19 | November 8, 2022 | 23.99% | |||
20 | November 9, 2022 | 23.99% | |||
21 | November 10, 2022 | 23.99% |
Formula for Question 15 (1)
Formula for Question 16 (1) Should be the same number as I16
Formula for Question 17 (1)
Use your Google Sheet and determine the total on November 30, 2022 (5)
answer: $234868.57
Give three reasons why you should get a debit card when you are 15 (3)
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