Consumer Responsibilities Answers

Priscilla decides to order a delivery from the local sandwich shop. Their order comes to $12.74 and there is a $2.30 delivery charge. When the food is delivered, Priscilla adds on to their receipt a charge of 15% of their total, not including the delivery charge, as a tip for the driver. When Priscilla goes to check their debits on their online bank statement, what amount should they expect as the total debit?

A consumer charges a $46.92 purchase on a credit card. The card has a daily interest rate of 0.039%. If the consumer pays off the balance at the end of 30 days, how much in interest will be paid for the purchase?

Shakira has a balance of $202.86 in their checking account on Saturday morning. They use their debit card to pay their cell phone bill of $80.73 over the phone. They then pick up their dry cleaning, dog food at the pet store, and groceries at the market for debits of $16.89, $35.24, and $113.92 respectively. Shakira’s bank uses a balance system of deducting highest transactions first. The bank will not decline amounts under $50, but they do charge a fee for each overdraft. How many overdraft fees will Shakira incur?

Verona goes to a business that offers tax refund anticipation loans because they really want to get their money right now and not wait. They calculate their refund to be $985 and the charge is $130 in fees for the loan. If the term on the loan is 15 days, what is the annual percentage rate on their loan?

Kaleb wants to get a payday loan in the amount of $375. They know that the annual percentage rates (APR) for these types of loans are high, but they are hoping to find one that has an APR of 40%. If Kaleb finds a business that charges a fee of $37 for the loan, what would the term of the loan need to be in order for Kaleb to get their desired APR?