On February 3, the billing date, Carol Ann had a balance due of $124.78 on her credit card. Her bank charges an interest rate of 1.25% per month. She made the following transactions during the month.

(a) Determine the finance charge on March 3, using the previous balance method.

(b) Determine the new balance on March 3.

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Charge: Art supplies Payment Charge: Flowers delivered Charge: Music CD $25.64 February 8 February 12 February 14 February 25 100.00 67.23 13.90