31. Aaron had an unpaid balance of $1,384.00 on his credit cardstatement at the beginning of January. He made a payment of $480.00during the month. If the interest rate on Aaron's credit card was8% per month on the unpaid balance, find the finance charge and thenew balance on February 1. A) Finance charge = $120.86; new balance= $1,024.86 B) Finance charge = $108.83; new balance = $1,012.83 C)Finance charge = $110.72; new balance = $1,014.72 D) Finance charge= $114.83; new balance = $1,018.83

Answer rating: 100% (QA)

A Finance charge 12086 new balance 102486 Calculation Unpaid balance 138400 Payment 48000 Finance charge 8 Unpaid balance Payment 8 138400 48000 8 90400 7232 New balance Unpaid balance Finance charge ... View the full answer