Question

on the June 10th billing date ,yuri had a balance due of $476.57 on his credit card .The transactions during the following month were.June payment $62.18 June 22 charge lawnmower $1558.44 July 3 charge fireworks 148.98 the interest rate 1.7% per month using the unpaid balance method, find the new balance on July 10

Answer 1

what is the unpaid balance method ? can you elaborate

Answer 2

1645.24

Answer 3

i came up with D. $2192.09

Answer 4

what are the other options ?

Answer 5

2129.91A) B)2157.88 C) 422.49

Answer 6

for some reason i get 2157.88

Answer 7

here is my reasoning though, and it could be wrong but based on what i know about interest:

For June

Initial unpaid balance: 476.57
Deduct payment: -62.18
Add charges: 1558.44

total balance for June: 1972.83
At 1.7% the balance for June is

1.017(1972.83) = 2006.36811

For July

Charges: 148.98

At 1.7% this is

1.017(148.98) = 151.51266

Total balance for June: 2006.36811
Total balance for July: 151.51266

Total balance combined: 2157.88077 = 2157.88

Answer 8

what method did you use