# Loc Assessment

7 Questions | Total Attempts: 12

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• 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.
What is the customer's MONTHLY cash advance fee ON THE SEPTEMBER STATEMENT?State: MD (NEW)Draw Fee Percentage: 15%Draws:6/9/14: 3200  6/12/14: 4006/30/14: 200 9/15/14: 30010/9/14: 100PLEASE DO NOT PUT A DOLLAR SIGN IN YOUR ANSWER. Ex 100.34
• 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