Calculate the unpaid balance, finance charge, and new balance using the unpaid balance method.
1 answer:
Answer:
Step-by-step explanation:
Previous balance = $410.22
Payments/credits = $160.00
unpaid balance : $410.22-$160.00=$250.22
Monthly rate = 1.25%
Finance charge : 1.25 % of $250.22=$3.7533
Total balance to be paid when Finance charge is included : $250.22+$3.7533=$253.9733
New balance :
$253.9733+$95.25=349.2233
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