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?\na. $1,136.71\nb. $1,033.76\nc. $1,140.55\nd. $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?\na. $1,136.71\nb. $1,033.76\nc. $1,140.55\nd. $1,240.55

Answer

Explanation:

Step1: Add all purchases

$1240.55 + 36.43+41.52 + 25.00$

Step2: Subtract all payments

$(1240.55 + 36.43+41.52 + 25.00)-(75.00 + 131.79)$ $=1343.5 - 206.79$ $= 1136.71$

Answer:

A. $1,136.71$