Since Bailey wanted a new pair of shoes, and she put the $ 142 cost on her credit card, but because Bailey has been irresponsible with her credit, the credit card company charges her 22% annual interest, for figure Bailey's balance after 180 days, assuming she made no payments, the following calculation must be made:
365 = 100
180 = X
180 x 100/365 = X
18,000 / 365 = X
49.31 = X
22 x 0.4931 = 10.84
142 x 1.1084 = X
157.39 = X
Thus, Bailey's balance after 180 days is $ 157.39.
