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Nick has a revolving department store credit card account with an annual percentage rate of 15%.Last month's balance on the account was 423.78.During the current month,he made purchases totaling 123.42 and made a payment of 100.00.The store uses the unpaid balance method.According to this information,what must be the amount of the finance charge.Round to nearest cent.

  • math - ,

    423.78 + 23.42 = 447.20

    447.20 * 0.15 = 67.08

    67.08 / 12 = ?

  • math - ,

    Ms. Sue,
    Thank you very much,I cannot believe I was leaving off dividing by 12.

    According to the information above would Nicks current account balance be 380.12.

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