To determine a new credit card balance, use the following formula:

New Balance = Previous Balance + Finance Charge + Purchases and Cash Advances - Payments and Credits

Question

To determine a new credit card balance, use the following formula:
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New Balance = Previous Balance + Finance Charge + Purchases and Cash Advances - Payments and Credits​

Quizplus · Accepted Answer

This formula accurately represents how to calculate a new credit card balance by taking into account the previous balance, adding any finance charges along with purchases and cash advances, and then subtracting any payments and credits made.

To Determine a New Credit Card Balance, Use the Following