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3 years ago

Dominick’s unpaid credit card balance was $2103.24. His APR is 14.4%.

1 answer:

4 0

New balance=previous balance+finance charge+New transaction

First we need to calculate the finance charge in order to find the new balance

Finance charge=2,103.24×(0.144÷12 months)
=25.24

New balance
2,103.24+25.24+280
=2,408.48

Hope it helps!

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Step-by-step explanation:

i) from the given series we can see that the first term is $a_{1 }$ = 120.

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iv) the third term is $\frac{10}{3}$ = 20 × r

therefore r = $\dfrac{10}{3}$ ÷ 20 = $\dfrac{1}{6}$

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$\frac{a_{1} }{1 - r}$ = $\frac{120}{1 - \frac{1}{6} } = \frac{120}{\frac{5}{6} } =$ $\frac{120 \times 6}{5}$ = 144.

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