Question

Alicia's credit card statement for July read as follows:

Previous balance: $547.98
New charges: $238.31
Payments or credits: 299.00
Finance charge: $8.21
What is the new balance on Alicia's credit card statement for July?

Answer 1

$495.5

Step-by-step explanation:

The closing balance will the opening balance plus additional charges minus the payments made.

Opening or previous balance = $547.00

New charges: $238.31

Finance charge: $8.21

Total new charges =$238.31 +$8.21= $246.52

Payments = $299.00

New Balance at end of July

=$547.00 + $246.52- $299

=$794.5 -$299.0

=$495.5