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Aja Has a Charge Card with a Monthly Rate of 1.5

Question 32

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Aja has a charge card with a monthly rate of 1.5% on amounts up to $1,200 and 1% on amounts over $1,200. Her previous balance was $2,237.89. She made a payment of $210, and purchases of $164.25. Using the previous balance method, what is her new balance?

Correct Answer:

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$2,220.52; $1,200 0.015 = $18;...

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