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?

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?

anonymous · Answer

$3686.5

anonymous · Answer

How did you get that answer?

anonymous · Answer

I think that is the wrong answer

anonymous · Answer

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

anonymous · Answer

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!