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schepotkina [342]
3 years ago
15

Gavin’s unpaid credit card balance is $2103.23. His APR is 14.4%.

Mathematics
1 answer:
arlik [135]3 years ago
7 0
APR stands for Annual Percentage Rate, we need to know this before we proceed with the calculations. Gavin's unpaid balance is $2103.23 and new credit amount is $390. New total credit amount is $2493.23, multiplying this with APR value which is 0.144 plus the total credit amount equals to the total balance. Hence, calculation is shown below:
Total balance = (($2103.23+$390)*0.144) + ($2103.23+$390) =$2852.255
Gavin needs to pay the total credit balance amounting to $2852.255. 
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<h3 /><h3 />

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