Question

gary's unpaid credit card balance is $2543.32. His APR is 17.4% and he made one new transaction for $320. what is his new balance?

Answer 1

New Balance = 2543.32(1 + 0.174/12) + 320 = 2543.32(1.0145) + 320 = 2580.20 + 320 =

Explanation:

Answer 2

given that Gary's unpaid credit card balance is $2543.32. His APR is 17.4% and he made one new transaction for $320. so his new balance can be solved by just adding the unpaid credit card balance and the new transaction he made.
new balance = $ 2543.32 + $ 320
new balance = $ 2863.32