Question

1. Your account statement shows a previous balance
of $419.70. You have a credit of $23.35, and a
payment of $200. You make new purchases of
$49.90 and $32.48. The periodic rate is 1.25%. Find
the new balance.

Answer 1

Answer:

$281.18

Step-by-step explanation:

Previous balance = $419.70

Payments/credits = $223.35

So, the unpaid balance is = 419.70-223.35 = $196.35

Periodic rate = 1.25% or 0.0125

Finance charge = 0.0125*196.35=2.454375

New purchases = $82.38

So, the new balance will be = 196.35+2.454375+82.38=281.184375≈$281.18

For more information:

https://brainly.com/question/8387955?referrer=searchResults

Hope this helps!