Question

Your credit card uses the unpaid-balance method to calculate finance charge. the periodic rate is 1.85%. the previous balance is $478.68, you made a payment of $210 and had a credit of $89.95. your new purchases are $38.50, $65.74, and $125.61. what is your new balance?

Answer 1

$416.14
478.68-210-89.55+38.50+65.74+125.61=408.58x.0185=7.56
So 408.58+7.56=416.14