For the month of July, the unpaid balance on Sue's credit card statement was $1001.66 at the beginning of the billing cycle. She made purchases of $455.33 . She also made a payment of $700.57 during the month. If the interest rate was 1.85% per month on the unpaid balance, determine the finance charge and the new balance on the first day of the August billing cycle. Round the answers to the nearest cent.

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Calculating Finance Charge and New Balance 1 Calculate the new ba... View the full answer