BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Andrew Weinmeyer’s credit card statement shows a previous balance of $628.94. The periodic rate is 1.375 percent of the unpaid balance. If he had purchases totaling $351.18 and made a payment in the amount of $500.00, what is his new balance?
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$1.77
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$8.65
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$488.77
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$481.89
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Explanation:
Detailed explanation-1: -The new balance is the sum of the previous balance and the payments made during the billing cycle, as well as any credit, purchases, balance transfers, fees, cash advances, or interest charges.
Detailed explanation-2: -Previous balance: The balance carried over from your last statement or last billing cycle.
There is 1 question to complete.