Question

Andre Moore's credit card had a previous balance of $1,035.25. Andre made a $736.84 payment and used his card to make new purchases of $70.52, $84.80, and $76.19. If the finance charge for this account was $16.15, what is the new balance on Andre's card?

a) $258.19
b) $272.96
c) $193.25
d) $319.71

Answer 1

To find the new balance on Andre's credit card, subtract the payment he made from his previous balance, then add the new purchases and finance charge. The new balance is $546.07.

Step-by-step explanation:

To find the new balance on Andre's credit card, we start with his previous balance of $1,035.25. Then, we subtract the payment he made of $736.84 and add the new purchases he made, which amount to $70.52, $84.80, and $76.19. Finally, we add the finance charge of $16.15 to get the new balance.

Previous balance: $1,035.25

- Payment: $736.84

+ New purchases: $70.52 + $84.80 + $76.19 = $231.51

+ Finance charge: $16.15

New balance = $1,035.25 - $736.84 + $231.51 + $16.15 = $546.07

Therefore, the new balance on Andre's card is $546.07.