1. Credit Card Payment Terms. Paul's credit card closes on the 9th of the month, and his payment is due on the 30th. If Paul purchases a stereo for $300 on June 12th, how many interest-free days will he have? When will he have to pay for the stereo in full in order to avoid finance charges?
2. Credit Card Financing. Chrissy currently has a credit card that charges 15% interest. She usually carries a balance of about $500. What will her total annual interest be with her current card?