Solve the Problem The Interest Rate on the Card Is 1

question 132

Multiple Choice

Solve the problem.
-On the August 28 billing date, Marcus had a balance due of $826.16 on his credit card. The Transactions during the following month were: $$\begin{array} { l l r } \text { August 30 } & \text { Payment } & \$ 111.39 \\\text { September 2 } & \text { Charge: camera } & \$ 390.39 \\\text { September 8 } & \text { Charge: bicycle } & \$ 185.38 \\\text { September 21 } & \text { Charge: shoes } & \$ 66.81\end{array}$$
The interest rate on the card is 1.5% per month. Using the previous balance method, find the new Balance on September 28.

• A) $1481.13
• B) $1487.60
• C) $727.16
• D) $1369.74