apples02
Answered

Calculate the unpaid balance, finance charge, and new balance using the unpaid balance method.
Note: interest rate is given as a monthly rate.

Previous balance = $410.22

Payments/credits = $160.00

Unpaid balance = $

Monthly rate = 1.25%

Finance charge = $

New purchases = $95.25

New balance = $

Answer :

anelapasic1807

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

amudrova

Answer:

Unpaid balance = $ 250.22

Finance charge = $ 3.13

New balance = $ 348.60

Step-by-step explanation:

Calculate the unpaid balance, finance charge, and new balance using the unpaid balance method.Note: interest rate is given as a monthly rate.

Previous balance = $410.22

Payments/credits = $160.00

subtract 410-160 to get unpaid balance

Unpaid balance = $ 250.22

Monthly rate = 1.25%

multiply 250 by monthly rate (decimal) .0125 to get finance charge

Finance charge = $ 3.13

New purchases = $95.25

add unpaid balance and finance charge and new purchases to get new balance

New balance = $ 348.60

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