Previous Balance Method On April 15, the billing date,
Chapter 11, Problem 11.1.211(choose chapter or problem)
Previous Balance Method On April 15, the billing date, Gabrielle Michaelis had a balance due of $57.88 on her credit card. She is redecorating her apartment and has the following transactions. April 16 Charge: Paint $64.75 April 20 Payment 45.00 May 3 Charge: Curtains 72.85 May 10 Charge: Chair 135.50 a) Find the finance charge on May 15, using the previous balance method. Assume that the interest rate previous is 1.35% per month. b) Find the new balance on May 15.
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