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15 August, 10:22

David's statement shows a previous balance of $5834.53, a payment of $150, and new transactions totaling $325. His APR is 20.4%

A. $5984.64

B. $6106.17

C. $6111.69

D. $6256.17

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  1. 15 August, 12:13
    0
    Given:

    Previous balance: 5,834.52

    payment: 150

    new transaction: 325

    APR 20.4%

    (20.4% / 360) * 30 = 1.7%

    5,834.53 - 150 = 5,684.53

    5,684.53 * 101.7% = 5,781.17 * Only the revolving amount is subject to the interest rate.

    5,781.17 + 325 = 6,106.17

    David's new balance will be B. 6,106.17
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