Katie had an unpaid balance of $5,155.15 on her credit card statement at the beginning of October. She made a payment of $215.00 during the month, and made purchases of $412.01. If the interest rate on Katie's credit card was 6.5 percent per month on the unpaid balance, find her finance charge and the new balance on November 1.
A. Finance charge = $335.08; new balance = $5,687.25

B. Finance charge = $270.08; new balance = $5,452.55

C. Finance charge = $205.71; new balance = $5,516.62

D. Finance charge = $347.54; new balance = $5,374.79

Question

Katie had an unpaid balance of $5,155.15 on her credit card statement at the beginning of October. She made a payment of $215.00 during the month, and made purchases of $412.01. If the interest rate on Katie's credit card was 6.5 percent per month on the unpaid balance, find her finance charge and the new balance on November 1. 
 A. Finance charge = $335.08; new balance = $5,687.25  
 
 B. Finance charge = $270.08; new balance = $5,452.55  
 
 C. Finance charge = $205.71; new balance = $5,516.62  
 
 D. Finance charge = $347.54; new balance = $5,374.79