Question

Credit Card Statement Calculate the newPrevious Balance $120.00 balance on thisFinance Charge $15.00 account after theseNew Purchases $200.00 charges andPayments $(300.00) payments areCredits$0.00applied.A. $35.00B. $635.00C. $235.00D. $395.00

Answer 1

Previous Balance: $120

Finance Charge: $15

New Purchases: $200

Payments: $300

Recall this is a Credit Card Statement.

To find the new balance we must subtract the payments and add the charges:

New Balance = $120 - $300 + $15 + $200

New Balance = $35

Answer: A. $35.00