Question

Alexander has a previous balance of $982 on a credit card with a 19.2% APR compounded monthly. If he made a payment of $73 this month, what is the new balance on his credit card?

Answer 1

\[A=P(1+R/100*n)^{n*T}\]

Answer 2

here 982(1+19.2/(100*1/12))^1/12*1

Answer 3

solve to get one month's balance sub second one

Answer 4

i got 983.887, when i solved it, but im stuck now, do i subtract 73 from that next?