Answer:
Unpaid balance = $ 250.22
Finance charge = $ 3.13
New balance = $ 348.60
Explanation:
Calculate the unpaid balance, finance charge, and new balance using the unpaid balance method.Note: interest rate is given as a monthly rate.
Previous balance = $410.22
Payments/credits = $160.00
subtract 410-160 to get unpaid balance
Unpaid balance = $ 250.22
Monthly rate = 1.25%
multiply 250 by monthly rate (decimal) .0125 to get finance charge
Finance charge = $ 3.13
New purchases = $95.25
add unpaid balance and finance charge and new purchases to get new balance
New balance = $ 348.60