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anonymous

  • one year ago

Katie had an unpaid balance of $2,072.25 on her credit card statement at the beginning of March. She made a payment of $440.00 during the month. If the interest rate on Katie's credit card was 15.5% per month on the unpaid balance, find the finance charge and the new balance on April 1.

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  1. anonymous
    • one year ago
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    A.Finance charge = $325.31; new balance = $1,957.56 B.Finance charge = $331.34; new balance = $1,963.59 C.Finance charge = $321.20; new balance = $1,953.45 D.Finance charge = $319.31; new balance = $1,951.56

  2. amistre64
    • one year ago
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    Any ideas on how to approach it?

  3. anonymous
    • one year ago
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    None really...that's why I'm asking. :-)

  4. amistre64
    • one year ago
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    well, you should have a basic idea, even if it wrong. you are taking a class arent you? give me an idea.

  5. amistre64
    • one year ago
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    we have a balance, we make a payment ... is the payment before or after the interest is calculated?

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