BESE Comprehensive Exam- June 27, 2011
This is your last assessment for BESE course. You have 2 hours to complete the exam and CANNOT be saved. At the end of the 2 hour limit the test will automatically end and submit your test. Take your time and do well.
Credit Card Formulas
New Balance Formula
Previous Balance + Finance Charge + New Purchases- Payments- Credits
Unpaid Balance
*Previous Balance – Payments − Credits = Unpaid Balance
*Unpaid Balance × Periodic Rate = Finance Charge
*Previous Balance + Finance Charge+ Fees+ New Purchases- Payments- Credits= New Balance
Average Daily Balance Formula
*Find the sum of daily balances
*Sum of Daily Balances ÷ Number of Days=Average Daily Balance
*Average Daily Balance × Periodic Rate
*Previous Balance + Finance Charge + New Purchases − Payments− Credit
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