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25 December, 13:59

Calculate the finance charge and new balance using the previous balance method. Previous balance = $350.55

Annual rate = 18%

Finance charge = $

New purchases = $59.95

Payments/credits = $150.00

New balance = $

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Answers (1)
  1. 25 December, 14:01
    0
    Finance charge

    350.55 * (0.18:12) = 5.26

    New balance

    350.55-150+5.26+59.95=265.76
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