the table below shows a summary of keiths credit - card statement for the month of february.\ntransaction…

the table below shows a summary of keiths credit - card statement for the month of february.\ntransaction types\tamount\nunpaid balance from january (beginning balance on february 1)\t$2439.90\npurchases made during the month of february\t$334.83\npayments made during the month of february\t$239.40\ncomplete the parts below. write your answer to the nearest cent.\n(a) suppose the credit - card company charges 1.9% monthly interest on the unpaid balance from january. how much interest will this be?\n$\n(b) what will keiths unpaid balance be on his march 1 statement? (assume that this balance will include the interest from part (a), but will not include any interest on his february balance yet.)\n$

the table below shows a summary of keiths credit - card statement for the month of february.\ntransaction types\tamount\nunpaid balance from january (beginning balance on february 1)\t$2439.90\npurchases made during the month of february\t$334.83\npayments made during the month of february\t$239.40\ncomplete the parts below. write your answer to the nearest cent.\n(a) suppose the credit - card company charges 1.9% monthly interest on the unpaid balance from january. how much interest will this be?\n$\n(b) what will keiths unpaid balance be on his march 1 statement? (assume that this balance will include the interest from part (a), but will not include any interest on his february balance yet.)\n$

Answer

Explanation:

Step1: Calculate the interest

The interest is calculated as a percentage of the unpaid balance from January. The formula is $Interest = Unpaid\ balance\times Interest\ rate$. The unpaid balance from January is $2439.90$ and the monthly - interest rate is $1.9%$ or $0.019$ in decimal form. $Interest=2439.90\times0.019$ $Interest = 46.3581\approx46.36$

Step2: Calculate the unpaid balance on March 1

The unpaid balance on March 1 is the sum of the unpaid balance from January, the purchases made in February, and the interest from part (a), minus the payments made in February. The unpaid balance from January is $2439.90$, purchases in February are $334.83$, interest is $46.36$, and payments in February are $239.40$. $Unpaid\ balance=2439.90 + 334.83+46.36−239.40$ $Unpaid\ balance=2439.90+334.83 + 46.36-239.40=2581.69$

Answer:

(a) $46.36$ (b) $2581.69$