Answer:
Jack's new balance is: 397.51.
Step-by-step explanation:
With the information provided, first you can find the unpaid balance using the following formula:
Unpaid balance=Previous balance-payments
Unpaid balance=95.85-45
Unpaid balance=50.85
Then, you can calculate the finance charge by multiplying the unpaid balance for the finance rate:
Finance charge=50.85*1.5%
Finance charge=0.76
Finally, you can find the new balance by adding up the unpaid balance plus the finance charge plus the new charges:
New balance=50.85+0.76+345.90
New balance=397.51
According to this, the answer is that Jack's new balance is: 397.51.
