Chaundra Has a Credit Card with a Monthly Rate of 1.3

question 43

Multiple Choice

Chaundra has a credit card with a monthly rate of 1.3% .The account applies the unpaid balance method. Her unpaid balance for the June billing cycle is $704.42. During the month of June, she made purchases of $452.61, returned items worth $17.69 and made a payment of $105. Find her new balance.

• A) $1034.34
• B) $1061.19
• C) $1042.13
• D) $1043.50

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Definitions:

Inter-company Transactions

Financial activities between different divisions or subsidiaries within the same parent company.

Parent Company

A corporation that holds a controlling interest in one or more subsidiary companies.

Subsidiary

A company that is controlled by another company, known as the parent company, typically through a majority of the voting shares.

Common Shares

Equity ownership units in a corporation, giving holders voting rights and a share in the company's profits via dividends.