On the June 10 billing date, Yuri had a balance due of $476.57 on his credit card. The transactions during the following month were:

June 12 Payment $62.18
June 22 Charge: lawnmower $1558.44
July 3 Charge: fireworks $148.98

The interest rate on the card is 1.7% per month. Using the unpaid balance method, find the new balance on July 10.
A. $2129.91

B. $2157.88

C. $422.49

D. $2192.09

Question

On the June 10 billing date, Yuri had a balance due of $476.57 on his credit card. The transactions during the following month were: 

June 12 Payment $62.18
June 22 Charge: lawnmower $1558.44
July 3 Charge: fireworks $148.98

The interest rate on the card is 1.7% per month. Using the unpaid balance method, find the new balance on July 10. 
 A. $2129.91  
 
 B. $2157.88  
 
 C. $422.49  
 
 D. $2192.09

anonymous · Answer

I suppose you add those transactions to the existing credit on his card, and add 1.7% onto it?

anonymous · Answer

476.57-62.18+1558.44+148.98=2121.81
1.7% of 2121.81=36.07
2121.81+36.07 = B