Previous balance = $179.32 Annual rate = 16% Finance charge = $ New purchases = $117.42 Payments/credits = $85.00 New balance = $

Question

Mathematics

Teagan Lamb

6 August, 21:44

Previous balance = $179.32 Annual rate = 16% Finance charge = $ New purchases = $117.42 Payments/credits = $85.00 New balance = $

+1

Answers (1)

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Deven · Answer 1

First we should calculate the amount of the finance charge

Finance charge=179.32 * (0.16:12months)

=2.39

New balance = previous balance-payments/credit+finance change+New purchases

New balance=179.32-85+2.39+117.42

=214.13

Good luck!