Question

Larry Bubach owed a credit card company $4,000. He paid $350 one month and did not charge any new items. He is charged 1.8% monthly interest on the unpaid balance. How much will his new balance be?

Answer 1

$3686.5

Answer 2

How did you get that answer?

Answer 3

I think that is the wrong answer

Answer 4

4000-350. You then find 1.8% of 4000. And then add 72 dolllars to 3650. And my bad it is $3,726.

Answer 5

Thank you!! :D I new it was an easy enough problem but it wasn't sure about the process to get the answer thank you!