Question

Pavi has a credit line of $8,000 on his credit card. Review the summary of his credit card statement. How much credit does Pavi currently have available on this card? Summary Previous Balance Payments/Credits New Purchases Finance Charge New Balance $2,500.00 $1,500.00 $3,000.00 $7.50 $4,007.50 A. $3,992.50 B. $5,000.00 C. $5,500.00 D. $6,500.50

Answer 1

$3992.50

Explanation:

Answer 2

A. $3992.50

Explanation:

Credit line - $8,000.00

Summary

• Previous Balance Payments - $2,500.00
• Credits - $1,500.00
• New Purchases - $3,000.00
• Finance Charge - $7.50
• New Balance - $4,007.50

Available credit= credit line - new balance = $8000 - $4007.50= $3992.50