Calculate the finance charge and new balance using the previous balance method.
Previous balance = $179.32
Annual rate = 16%
Finance charge =
New purchases = $117.42
Payments/credits = $85.00
New balance =
math - PsyDAG, Wednesday, June 16, 2010 at 2:47am
Finance charge = .16($179.32) = ?
Add previous balance, fiance charge and new purchases and subtract credits.