Question

1. Greg Forrester's charge account statement showed a previous balance 20 points

of $152.35, a finance charge of $1.78, new purchases of $45.23 and $15.67,

a payment of $50.00, and a credit of $12.84. What is the new balance? *

O

O

$152.19

$152.51

$227.87

O

$277.87

Answer 1

Option $152.19

Explanation:

Data provided in the question:

Previous balance = $152.35

Finance charge = $1.78

New purchases of $45.23 and $15.67

Payment = $50.00

Credit = $12.84

Now,

New Balance

= [Previous balance + Finance charge + New purchases ] - [ Payments + Credits ]

= [ $152.35 + $1.78 + ($45.23 + $15.67) ] - [$50.00 + $12.84 ]

= $215.03 - $62.84

= $152.19

Hence,

Option $152.19