Kimberly has a revolving credit account at an annual percentage rate of 15%. Her previous monthly balance is $724.19. Find the new balance if Kimberly's account showed the following activity. (Use the unpaid balance method.)
Kimberly has a revolving credit account at an annual percentage rate of 15%. Her previous monthly balance is $724.19. Find the new balance if Kimberly's account showed the following activity. (Use the unpaid balance method.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Kimberly has a revolving credit account at an annual percentage rate of 15%. Her previous monthly balance is $724.19. Find the new balance if Kimberly's account showed the following activity. (Use the unpaid balance method.)

Transcribed Image Text:STATEMENT
May 7
May 10
May 14
May 19
May 28
$763.92
$1,574.32
O $2,000.00
O $2,305.76
OF ACCOUNT Billing cycle: May 1-31
Cleaning Supplies
$ 88.76
Payment
Jim's Appliance (credit)
Jen's Catering
Jackie's Garage
115.00
250.72
354.12
763.92
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