Tom's statement shows a previous balance of $2452.64 a payment of $160 a new transactions totaling $138 what is his new balance

Question

Mazyrski [523]

3 years ago

8

Tom's statement shows a previous balance of $2452.64 a payment of $160 a new transactions totaling $138 what is his new balance

if his APR is 15.6%

Mathematics

2 answers:

Gemiola [76] · Answer 1 · 2022-08-15T02:25:23+03:00

Gemiola [76]3 years ago

4 0

His new balance will be $805.8915

creativ13 [48] · Answer 2 · 2022-08-15T04:51:19+03:00

creativ13 [48]3 years ago

4 0

Hello there:)

Unpaid balance
=2,452.62−160=2,292.62
Finance charge
2,292.62×(0.156÷12)=29.8
New balance
2,452.62−160+29.8+138
=2,460.42

Hope it helps