Question

Maurice Mueller's charge account statement showed a previous balance of $2,567.91, a finance charge of $10.82, a new purchase of $186.50, and a payment of $99.10. What is his new balance?

a) $2,665.11
b) $2,760.69
c) $2,865.29
d) $2,960.87

Answer 1

Maurice Mueller's new balance is $2,673.13.

Step-by-step explanation:

To find Maurice Mueller's new balance, we need to subtract the payment from the previous balance, add the finance charge, and add the new purchase.

Previous balance = $2,567.91

Payment = $99.10

Finance charge = $10.82

New purchase = $186.50

New balance = (Previous balance - Payment) + Finance charge + New purchase

New balance = ($2,567.91 - $99.10) + $10.82 + $186.50

New balance = $2,475.81 + $10.82 + $186.50

New balance = $2,673.13

Therefore, Maurice Mueller's new balance is $2,673.13.