Question

Marissa Palmer’s charge account statement showed a previous balance of $142.55, a finance charge of $2.82, new purchases of $86.50, and a payment of $80.00. What is her new balance?

Answer 1

$151.87

Explanation:

The new balance includes the previous balance, plus finance/interests charges, plus the new purchases, minus the payment(s).

So,

Previous balance: $142.55

+ Finance charge: $2.82

+ New purchases: $86.50

= Sub-total: $231.87

- Payment: $80.00

= New Balance: $151.87