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David’s statement shows a previous balance of $5834.53, a payment of $150, and new transactions totaling $325. His APR is 20.4%. What is his new balance?
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3 votes
David’s statement shows a previous balance of $5834.53, a payment of $150, and new transactions totaling $325. His APR is 20.4%. What is his new balance?

User Omurbek
by
7.1k points

2 Answers

3 votes

Answer:

5,834.53−150+96.64+325

=6,106.17

Explanation:


User Shpetim
by
9.4k points
7 votes
Finance charge
(5,834.53−150)×(0.204÷12)=96.64

New balance
5,834.53−150+96.64+325
=6,106.17
User Kuzenko Lubko
by
9.3k points
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