Question

your monthly statement shows a 504.33 previous balance a 50.00 payment new purchase charge of 12.35 and 39.54 and a 5.67 finance charge what is the new balance

Answer 1

The new balance on the credit card is calculated by subtracting the payment from the previous balance, and then adding the new purchase charges and finance charge, resulting in a new balance of $511.89.

Step-by-step explanation:

The student's new balance on the credit card can be calculated by subtracting the payment made from the previous balance, then adding the new purchase charges and finance charge. Here's how the calculation is done:

• Start with the previous balance: $504.33
• Subtract the payment made: -$50.00
• Add new purchase charges: +$12.35 and +$39.54
• Add the finance charge: +$5.67

Now, perform the calculation:

New balance = Previous balance - Payment + New purchases + Finance charge

New balance = $504.33 - $50.00 + $12.35 + $39.54 + $5.67

New balance = $511.89

Therefore, the new balance on the credit card is $511.89.