NAME:____________________________________  OFFER ________________

 

  1. Identify the APRs associated with each of the following:

 

PR -

 

BT -

 

CA -

 

    2.  For VARIABLE rate offers, what is the percentage that will be ADDED to the Prime Rate in order to determine the APR?

                        PR =

                        BT =

                        CA =

    3.  List the transaction fees (TF) associated with this card:

            a.                                                                                            c.                                

            b.                                                                                            d.

 

CALCULATE THE MONTHLY CHARGES ON THE FOLLOWING BALANCE:

                  A.                           B.                C.                              D.                  E.   

PR = $________.00 +  TF($____) = $_______ + Periodic ($_______) = ________.___

BT = $________.00 +  TF($____) = $_______ + Periodic ($_______) = ________.___

CA = $________.00 +  TF($____) = $_______ + Periodic ($_______) = ________.___

1.  What is your principal balance?    (A TOTAL)                     ____________ 

 

2.  What is the monthly total of your transaction fees?    (B TOTAL)  ____________

 

3.  What is your total monthly finance charge?    (D TOTAL)  ____________

 

4.  What will your balance subject to finance charges be?    (E TOTAL)  ____________

 

5.  If the MMP is 2.25% of your balance subject to finance charges, calculate the MMP?  ____________

 

6.  Apply the MMP to the appropriate category and give the NEW balance of that category.  (E category - MMP)

 

________ (category balance) - __________ (MMP) =  __________________ (new category balance).