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The unpaid balance on a credit card is $2,188.64. The finance charge on the card is 1.3% on the unpaid...

21. The unpaid balance on a credit card is $2,188.64. The finance charge on the card is 1.3% on the unpaid balance. During the month, a payment of $550.00 was made, and charges of $94.75 and $184.45 were added. Calculate the new unpaid balance at the end of the month.
○ $2,217.09
○ $1,811.54
○ $1,946.29
○ $1,917.84

Answer

First, calculate the finance charge:
Finance charge = $2,188.64 * 0.013 = $28.45

Next, calculate the new balance before payment and charges:
New balance = $2,188.64 + $28.45 - $550.00 + $94.75 + $184.45 = $1,946.29

The new unpaid balance at the end of the month is $1,946.29.

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