elijah's credit card statement showed these items: Last Balance Payments Finance Rate New Charges $152.58 $45.00 1.5% $213.40 What is Elijah's new balance? $320.98 $322.59 $323.27 $397.51

Question

Christine Chambers

Mathematics

25 April, 04:16

elijah's credit card statement showed these items: Last Balance Payments Finance Rate New Charges $152.58 $45.00 1.5% $213.40 What is Elijah's new balance? $320.98 $322.59 $323.27 $397.51

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Answers (1)

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Sarahi Hood · Answer 1

Option A,$320.98 is correct

Step-by-step explanation:

The new balance on Elijah's credit is the sum of the last balance plus new charges minus payments made.

last balance as shown by the statement was $152.58

new charges were $213.40

payment made by Elijah was $45

new balance=$152.58+$213.40-$45=$320.98

The rationale for this is that the new charges on the card account add to previous balance owed by Elijah while the payment of $45 made reduces overall balance.