On July 8, the billing date, Marvin Zug had a balance due of $264.94 on his credit
card. His card charges an interest rate of 1.25% per month. The transactions he
made are to the right.
a) Find the finance charge on August 8, using the previous balance method.
b) Find the new balance on August 8.
a) The finance charge on August 8 is $
(Round to the nearest cent as needed.)
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Points: 0 of 1
Marvin made the following transactions during the month.
July 16 Charge:
$21.54
Office supplies
July 18 Charge: Scarf
July 24 Payment
July 28 Charge:
Toy truck
$21.95
$110.00
$107.76

Question

04-12-2022
Mathematics

Answered

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On July 8, the billing date, Marvin Zug had a balance due of $264.94 on his credit
card. His card charges an interest rate of 1.25% per month. The transactions he
made are to the right.
a) Find the finance charge on August 8, using the previous balance method.
b) Find the new balance on August 8.
a) The finance charge on August 8 is $
(Round to the nearest cent as needed.)
View an example Get more help -
Points: 0 of 1
Marvin made the following transactions during the month.
July 16 Charge:
$21.54
Office supplies
July 18 Charge: Scarf
July 24 Payment
July 28 Charge:
Toy truck
$21.95
$110.00
$107.76

Sagot :

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