Solve the Problem The Interest Rate on the Card Is 1

question 208

Multiple Choice

Solve the problem.
-On the April 5 billing date, Danielle had a balance due of $48.61 on her credit card. The Transactions during the following month were: $\begin{array}{ll}\text { April } 7 \text { Charge: clothing } & \$ 109.68 \\\text { April } 8 \text { Payment } & \$ 23.81 \\\text { April } 22 \text { Charge: jewelry } & \$ 48.15 \\\text { April } 28 \text { Charge: vet } & \$ 274.67\end{array}$

The interest rate on the card is 1.3% per month. Using the previous balance method, find the new Balance on May 5.

• A) $463.24
• B) $481.74
• C) $457.93
• D) $25.43

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