12) Susan has a credit card with a monthly rate of 1.4%. The account applies the

Business & Finance
Tutor: None Selected Time limit: 1 Day

12) Susan has a credit card with a monthly rate of 1.4%. The account applies the unpaid balance method. The unpaid balance for her Apr billing cycle is $415.20. During the billing cycle she made purchases of $189.36 returned items for $17.08, and made a payment of $60.00. Find the new balance. 

A) $567.45 

B) $118.09 

C) $533.29 

D) $550.37

Apr 25th, 2015

C) 533.29

Interest will only be charged on outstanding balances, in this case the 415.20 previous balance. That means she has an interest charge of $5.81 (1.4% of the unpaid balance), plus new purchases of $189.36 minus returns of $17.08 and additional payments of $60. 

Apr 25th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Apr 25th, 2015
...
Apr 25th, 2015
Mar 23rd, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer