Put yourself in the shoes of the lender: why is information on application important
2 answers:
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Answer:
The new account balance is <u>$812</u>.
Step-by-step explanation:
Given:
Larry Thomas's charge account statement shows an unpaid balance of $800.
The monthly finance charge is 1.5% of the unpaid balance.
Now, to find the new account balance.
Unpaid balance = $800.
Monthly finance charge of the unpaid balance = 1.5%.
Now, to get the new account balance:
$800 + 1.5% of $800.
Therefore, the new account balance is $812.