math

How do you find the interest and the new balance on these charge accounts?

Balance=$253.00, Payment=$12.65, Unpaid Balance=$12.63, Interest Rate per Month=1.6%, Interest= , New Balance=

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  1. Not clear what balance and unpaid balance are.
    Usually statements give unpaid balance (from last month), minus the payments, add purchases to get the new balance. Is $253 the new balance?

    Also, charge accounts usually charge interest by the day. How does this account work if no days are specified?

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