Calculate the unpaid balance, finance charge, and new balance using the unpaid balance method. Note: interest rate is given as a monthly rate.

Previous balance = $410.22

Payments/credits = $160.00

Unpaid balance = $

Monthly rate = 1.25%

Finance charge = $

New purchases = $95.25

New balance = $

Question

Cailyn Cohen

4 April, 11:12

+3

Answers (1)

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Tucker Valenzuela · Answer 1

Unpaid balance 410.22-160==250.22

Finance charge 410.22*0.0125/12==0.43

New balance

410.22-160+0.43+95.25=345.9

Calculate the unpaid balance, finance charge, and new balance using the unpaid balance method. Note: interest rate is given as a monthly rate.Previous balance = $410.22Payments/credits = $160.00Unpaid balance = $Monthly rate = 1.25%Finance charge = $New purchases = $95.25New balance = $