Suppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $381.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.) Statement of Account Billing cycle: July 1-31 DATE DESCRIPTION OF TRANSACTIONS CHARGES July 04 Kit and Capoodle Pets $109.08 July 08 Payment 61.00 July 16 Cash advance 94.82 July 22 Mountain Vineyards 31.37 July 29 Vu Video (credit) 97.97

Suppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $381.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.) Statement of Account Billing cycle: July 1-31 DATE DESCRIPTION OF TRANSACTIONS CHARGES July 04 Kit and Capoodle Pets $109.08 July 08 Payment 61.00 July 16 Cash advance 94.82 July 22 Mountain Vineyards 31.37 July 29 Vu Video (credit) 97.97

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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