Katie had an unpaid balance of $883.92 on her credit card statement at the beginning of May. She
made a payment of $445.00 during the month, and made purchases of $23.04. If the interest rate on
Katie's credit card was 20% per month on the unpaid balance, find her finance charge and the new
balance on June 1.

Question

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The Answer of Katie had an unpaid balance of $883.92 on her credit card statement at the beginning of May. She
made a payment of $445.00 during the month, and made purchases of $23.04. If the interest rate on
Katie's credit card was 20% per month on the unpaid balance, find her finance charge and the new
balance on June 1.

Katie Had an Unpaid Balance of $883