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if john had an unpaid balance of $1,854.80 on his credit card statement at the beginning of the month and he made a payment of $45.00. If the interest rate of john's card wasw 2.5% on the unpaid balance per month. find the finance charge and the new balance on the first of the next month.
thanks...please help...I am in deep

  • math - ,

    2.5% of 1854.8 = 46.37

    This is more than his payment of $45 , so his balance will actually increase by $1.37

    His new balance will be $1856.17

    (John will probably get a phone-call from the bank)

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