Find the best answers to your questions with the help of IDNLearn.com's knowledgeable users. Get prompt and accurate answers to your questions from our community of experts who are always ready to help.

Jessica's credit card is on a 30-day billing cycle, and it computes finance charges using the adjusted balance method. The following table details Jessica's use of her credit card in the month of October.

\begin{tabular}{|c|r|c|}
\hline Date & Amount (\[tex]$) & Transaction \\
\hline $[/tex]10/1[tex]$ & $[/tex]1,240.55[tex]$ & Beginning balance \\
\hline $[/tex]10/2[tex]$ & 36.43 & Purchase \\
\hline $[/tex]10/10[tex]$ & 75.00 & Payment \\
\hline $[/tex]10/13[tex]$ & 131.79 & Payment \\
\hline $[/tex]10/20[tex]$ & 41.52 & Purchase \\
\hline $[/tex]10/22[tex]$ & 25.00 & Purchase \\
\hline
\end{tabular}

What is Jessica's adjusted balance for October?

A. $[/tex]\[tex]$ 1,136.71$[/tex]

B. [tex]$\$[/tex] 1,033.76[tex]$

C. $[/tex]\[tex]$ 1,140.55$[/tex]

D. [tex]$\$[/tex] 1,240.55$


Sagot :

Let's determine Jessica's adjusted balance for October by following her transaction history step by step.

1. Initial balance (October 1): Jessica starts with a balance of \[tex]$1,240.55. 2. Transaction on October 2: Jessica makes a purchase of \$[/tex]36.43. This purchase increases her balance.
[tex]\[ \text{New Balance} = 1240.55 + 36.43 = 1276.98 \][/tex]

3. Transaction on October 10: Jessica makes a payment of \[tex]$75.00. This payment reduces her balance. \[ \text{New Balance} = 1276.98 - 75.00 = 1201.98 \] 4. Transaction on October 13: Jessica makes another payment of \$[/tex]131.79. This payment further reduces her balance.
[tex]\[ \text{New Balance} = 1201.98 - 131.79 = 1070.19 \][/tex]

5. Transaction on October 20: Jessica makes a purchase of \[tex]$41.52. This purchase increases her balance. \[ \text{New Balance} = 1070.19 + 41.52 = 1111.71 \] 6. Transaction on October 22: Jessica makes another purchase of \$[/tex]25.00. This purchase further increases her balance.
[tex]\[ \text{Final Adjusted Balance} = 1111.71 + 25.00 = 1136.71 \][/tex]

Thus, Jessica's adjusted balance for October is:

[tex]\[ \boxed{1136.71} \][/tex]

The correct answer is:
a. [tex]$\$[/tex]1,136.71$.