Rashawn18
Answered

Gary unpaid credit card balance is $2543.32. His APR is 17.4%, and he made one new transaction for $320. What is his new balance?

A: $2900.20

B: $3020.46

C:$3305.86

D:$3442.34

Verified Answer :

nobillionaireNobley

New Balance = 2543.32(1 + 0.174/12) + 320 = 2543.32(1.0145) + 320 = 2580.20 + 320 = $2900.20

lhmarianateixeira

In this exercise we have to use the knowledge of finance to calculate the new balance of values, this will be equal to:

Letter A

Organizing the information given in the statement we find that:

  • credit card balance is $2543.32
  • His APR is 17.4%
  • made one new transaction for $320

Thus, performing the calculations as:

\(2543.32(1 + 0.174/12) + 320 = 2543.32(1.0145) + 320 = 2580.20 + 320 = $2900.20\)

See more about finances at brainly.com/question/10024737

Related Questions