15. examine the summary section of a monthly credit card statement. use the first five entries to determine…

15. examine the summary section of a monthly credit card statement. use the first five entries to determine the new balance.\nprevious balance payments/ credits new purchases late charge finance charge new balance\n$359.02 $80.00 $103.65 $0.00 $5.34 ?

15. examine the summary section of a monthly credit card statement. use the first five entries to determine the new balance.\nprevious balance payments/ credits new purchases late charge finance charge new balance\n$359.02 $80.00 $103.65 $0.00 $5.34 ?

Answer

Explanation:

Step1: Subtract payments/credits from previous balance

$359.02 - 80.00=279.02$

Step2: Add new purchases

$279.02+ 103.65 = 382.67$

Step3: Add finance charge

$382.67+5.34 = 388.01$

Answer:

$388.01$