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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
water.....kk

• 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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