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Solve the Problem The Interest Rate on the Card Is 1

Question 221

Multiple Choice

Solve the problem.
-On the November 1 billing date, Javier had a balance due of $507.23 on his credit card. The Transactions during the following month were:  November 3 Charge: microwave $253.40 November 4 Payment $369.51 November 9 Charge: calculator $123.03 November 22 Charge: clothing $191.93\begin{array}{lll}\text { November } 3 & \text { Charge: microwave } & \$ 253.40 \\\text { November } 4 & \text { Payment } & \$ 369.51 \\\text { November } 9 & \text { Charge: calculator } & \$ 123.03 \\\text { November } 22 & \text { Charge: clothing } & \$ 191.93\end{array}

The interest rate on the card is 1.3% per month. Using the previous balance method, find the new Balance on December 1.


A) $1082.18
B) $144.31
C) $712.67
D) $720.05

Correct Answer:

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