Question

Rebecca has a credit line of $6,500. She had a previous balance of $398.64 and made a payment of $250. The total of her purchases is $1,257.99. What is Rebecca's available credit?

Answer 1

$5093.37

Explanation:

To get Rebecca's available credit we need to take all of her payments and purchases and previous balance.

Previous balance = $398.64

Purchases = $1,257.99

Payment = $250

Credit Line = $6,500

Now first we add together her purchases and previous balance.

398.64 + 1,257.99

This will give us:

$1,656.63 Total deductions.

Now we subtract that to her credit line.

$6500.00 - $1656.63

$4843.37

Now we take her payment and add it to her credit line.

$4843.37 + $250

$5093.37

So Rebecca's available credit is $5093.37.