Candida has a revolvine credit account at an annual percentage rate of 24% Her previous monthly balance is $549.79 Find the new
balance using the previous month's balance method of Candida's account
showed the followme activity. Payment, $143 10. Country Lumber (charge), $230.18, Zahir Antiques (credit) $398 OS: Mountain Vineyards (charge), 20494, Bart's Garage (charge).
1 answer:
Answer:
$668.77
Step-by-step explanation:
Periodic Rate = APR / 12
Periodic Rate = 24% / 12 = 2%
Finance charge = Previous balance × Periodic rate
Finance charge = 549.79 × .02 = 10.9958
(Add charges and finance charge, subtract payments and credits)
New Balance = $549.79 + 10.9958 - $143.30 + 230.18 - 398.05 + 204.94 + 214.21 = $668.7658 ~ $668.77
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