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1 vote
Credit Card Statement

Previous Balance $ 290.00
Finance Charge S 10.00
New Purchases
$ 200.00
$(300.00)
$ (20.00)
Payments
Credits
A. $820.00
C. $240.00
Calculate the new
balance on this
account after these
charges and
payments are
applied.
B. $420.00
D. $180.00

Credit Card Statement Previous Balance $ 290.00 Finance Charge S 10.00 New Purchases-example-1
User Tebe
by
7.6k points

1 Answer

2 votes

Final answer:

To find the new balance on the credit card, add the finance charge to the previous balance and then adjust for new purchases. Considering no payments were listed, the new balance is $180.00.

Step-by-step explanation:

To calculate the new balance on the credit card account after charges and payments are applied, we need to consider the previous balance, any new purchases or charges, and any payments or credits.

Start with the previous balance: $290.00.

Add finance charge: $290.00 + $10.00 = $300.00.

Add new purchases collectively: $300.00 + $200.00 - $300.00 - $20.00 = $180.00.

Since there are no payments listed, the new balance would be $180.00.

Therefore, the new balance on the account after applying the charges and payments would be $180.00.

User Klings
by
7.6k points