Question

Maya's unpaid balance is $205.16. Her apr is 14.4% and she has $82.10 in new transactions what a her new balance?

Answer 1

Answer:

New balance = $316.8

Step-by-step explanation:

Given : Maya's unpaid balance is $205.16. Her APR is 14.4% and she has $82.10 in new transactions.

To find : What is her new balance?

Solution : First we find out the finance charge

Unpaid balance = $205.16

Finance rate = 14.4%

Finance charge = Unpaid balance × finance rate

                     $=205.16\times \frac{14.4}{100}=29.54$

Finance charge = $29.54

New purchase = $82.10

New balance =  Unpaid balance + finance charge + new purchase

New balance =  $205.16 + $29.54 + $82.10

New balance = $316.8

Answer 2

Your answer is $289.72