Question

Garys unpaid credit card balance is $2543.32. His APR is 17.4% qnd he made ine new transaction for $320 whats his new balance

Answer 1

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

Answer 2

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