jessicas credit card is on a 30 - day billing cycle, and it computes finance charges using the adjusted…

jessicas credit card is on a 30 - day billing cycle, and it computes finance charges using the adjusted balance method. the following table details jessicas use of her credit card in the month of october.\n| date | amount ($) | transaction |\n| ---- | ---- | ---- |\n| 10/1 | 1,240.55 | beginning balance |\n| 10/2 | 36.43 | purchase |\n| 10/10 | 75.00 | payment |\n| 10/13 | 131.79 | payment |\n| 10/20 | 41.52 | purchase |\n| 10/22 | 25.00 | purchase |\nwhat is jessicas adjusted balance for october?\n a. $1,136.71\n b. $1,033.76\n c. $1,140.55\n d. $1,240.55

jessicas credit card is on a 30 - day billing cycle, and it computes finance charges using the adjusted balance method. the following table details jessicas use of her credit card in the month of october.\n| date | amount ($) | transaction |\n| ---- | ---- | ---- |\n| 10/1 | 1,240.55 | beginning balance |\n| 10/2 | 36.43 | purchase |\n| 10/10 | 75.00 | payment |\n| 10/13 | 131.79 | payment |\n| 10/20 | 41.52 | purchase |\n| 10/22 | 25.00 | purchase |\nwhat is jessicas adjusted balance for october?\n a. $1,136.71\n b. $1,033.76\n c. $1,140.55\n d. $1,240.55

Answer

Answer:

A. $1,136.71

Explanation:

Step1: Calculate total payments

$75.00 + 131.79=206.79$

Step2: Calculate total purchases

$36.43+41.52 + 25.00=102.95$

Step3: Calculate adjusted balance

$1240.55+102.95 - 206.79=1136.71$