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To calculate the new balance on the credit card account after these charges and payments are applied, follow these steps:
1. Start with the Previous Balance:
The initial balance on the account is [tex]$\$[/tex]250.00[tex]$. 2. Add the Finance Charge: Add the finance charge of $[/tex]\[tex]$20.00$[/tex] to the previous balance.
[tex]\[ 250.00 + 20.00 = 270.00 \][/tex]
3. Add the New Purchases:
Add the amount of new purchases, which is [tex]$\$[/tex]100.00[tex]$. \[ 270.00 + 100.00 = 370.00 \] 4. Add the Payments Made: Subtract the payments made on the account. Since the payment is a subtraction, subtract $[/tex]\[tex]$190.00$[/tex].
[tex]\[ 370.00 - 190.00 = 180.00 \][/tex]
5. Add any Credits:
Since the credits are [tex]$\$[/tex]00.00[tex]$, there is no change in the balance from this step. Thus, after applying all charges and payments, the new balance on the account is: \[ \$[/tex]\mathbf{180.00}
\]
Therefore, the new balance is [tex]$\$[/tex]180.00$.
1. Start with the Previous Balance:
The initial balance on the account is [tex]$\$[/tex]250.00[tex]$. 2. Add the Finance Charge: Add the finance charge of $[/tex]\[tex]$20.00$[/tex] to the previous balance.
[tex]\[ 250.00 + 20.00 = 270.00 \][/tex]
3. Add the New Purchases:
Add the amount of new purchases, which is [tex]$\$[/tex]100.00[tex]$. \[ 270.00 + 100.00 = 370.00 \] 4. Add the Payments Made: Subtract the payments made on the account. Since the payment is a subtraction, subtract $[/tex]\[tex]$190.00$[/tex].
[tex]\[ 370.00 - 190.00 = 180.00 \][/tex]
5. Add any Credits:
Since the credits are [tex]$\$[/tex]00.00[tex]$, there is no change in the balance from this step. Thus, after applying all charges and payments, the new balance on the account is: \[ \$[/tex]\mathbf{180.00}
\]
Therefore, the new balance is [tex]$\$[/tex]180.00$.
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