Loc Assessment

7 Questions

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Loc Assessment


Questions and Answers
  • 1. 
    Use the given information to calculate the LOC customer's payment.State: VACredit Limit: 3600Available Credit: 87.60APR: 60%Balance Subject to interest: 3311.01Days in Billing cycle: 55PLEASE DO NOT PUT A DOLLAR SIGN IN YOUR ANSWER. Ex 100.34
  • 2. 
    Use the given information to calculate the LOC customer's payment.State: KSCredit Limit: 2000Available Credit: 0.00Balance Subject to Interest: 1000APR: 95%Days in billing cycle: 30PLEASE DO NOT PUT A DOLLAR SIGN IN YOUR ANSWER. Ex 100.34
  • 3. 
    Use the given information to calculate the LOC customer's payment.State: MD (legacy)Credit Limit: 4500Available Credit: 698.61Balance Subject to Interest: 3818.56Days in billing cycle: 30Minimum monthly charge: 135PLEASE DO NOT PUT A DOLLAR SIGN IN YOUR ANSWER. Ex 100.34
  • 4. 
    The statement for the MD customer (that you just calculated) shows a minimum payment due of 467.91. Is this statement correct Yes/No
  • 5. 
    Find the MD LOC customer's "required paydown percentage"State: MD (NEW)Credit Limit: 4000Available Credit: 169.06
    • A. 

      100% outstanding Paydown = 3%

    • B. 

      90-99% outstanding, Paydown = 3.5%

    • C. 

      80-89% outstanding, Paydown = 4%

    • D. 

      70-79% outstanding, Paydown = 4.5%

  • 6. 
  • 7. 
    Use the given information to calculate the LOC customer's payment.State: MD (NEW)Credit Limit: 4000Available Credit: 169.06Balance Subject to Interest: 3753.51Days in billing cycle: 30Paydown percentage: 3.5%Cash Advance Fee: 25.62PLEASE DO NOT PUT A DOLLAR SIGN IN YOUR ANSWER. Ex 100.34