Register
Tom's statement shows a previous balance of $2452.64 a payment of $160 a new transactions totaling $138 what is his new balance if his APR is 15.6%
199k views
3 votes
Tom's statement shows a previous balance of $2452.64 a payment of $160 a new transactions totaling $138 what is his new balance if his APR is 15.6%

User Fewfre
by
8.6k points

2 Answers

5 votes

His new balance will be $805.8915

4332.75 * 18.6%

User Allysa
by
8.2k points
6 votes
Hello there:)

Unpaid balance
=2,452.62−160=2,292.62
Finance charge
2,292.62×(0.156÷12)=29.8
New balance
2,452.62−160+29.8+138
=2,460.42

Hope it helps
User Vasile Surdu
by
8.8k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
The cost of 5 similar digital cameras and 3 similar video cameras is 3213. Each video camera costs 4 times as much as each digital camera. John buys a digital camera and a video camera. How much does he
Link Copied!