You have a credit card balance of $1407.64. If you make a payment of $75.00 and the credit card company is charging you 1.4% monthly. What will be your remaining balance on the next statement?

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Mathematics

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13 May, 00:41

You have a credit card balance of $1407.64. If you make a payment of $75.00 and the credit card company is charging you 1.4% monthly. What will be your remaining balance on the next statement?

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Taryn Heath · Answer 1

Okay so basically your next months credit card charge will be 100% of your previous balance plus an added 1.4%. Which is 101.4%. Then you subtract the $75 from that balance.

Is. =. %

Of. 100

X = 101.4

(1407.64). 100

Cross multiply

100x = 142734.696

Divide by 100

1427.34696 - 75 (the money you are going to pay)

=1352.34696

Which will be approximately 1352.35