Sams credit card statement balance was $700 at the end of October. Since the statement, Sam paid $400 and made $300 in new purchase. The card gives Sam a periodic rate of 10%.

Find finance charge and new balance using one of the methods from exploration segment

Question

Yael Maddox

8 October, 02:43

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Answers (1)

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Lilia Cooley · Answer 1

Answer: $600

700 - 400 = 300 + 300 = 600

Sams credit card statement balance was $700 at the end of October. Since the statement, Sam paid $400 and made $300 in new purchase. The card gives Sam a periodic rate of 10%.Find finance charge and new balance using one of the methods from exploration segment