5. Interest, investments and loans
Interactive practice questions
Calculate the closing balance on a credit card with opening balance $\$1068$$1068, if purchases to the amount of $\$802$$802 and repayments to the amount of $\$643$$643 are made during the month. Assume the closing balance is before any interest.
Easy
1 min
The opening balance on a credit card is $\$1620$$1620, and purchases of $\$677$$677 and repayments of $\$263$$263 are made during the month.
Easy
2 min
A credit card is used to borrow $\$1600$$1600.
Calculate the amount owed after $38$38 days if the interest rate is $6.4%$6.4% p.a. compounded daily.
Give your answer to the nearest cent.
Easy
1 min
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