Suppose you have a credit card balance of $500 that you were unable to pay off.During the current month you purchase another $250 worth of products.You made a payment during the grace period of $300.Assuming your retail credit card company charges an annual interest rate of 22%,compute your new balance.

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The Answer of Suppose you have a credit card balance of $500 that you were unable to pay off.During the current month you purchase another $250 worth of products.You made a payment during the grace period of $300.Assuming your retail credit card company charges an annual interest rate of 22%,compute your new balance.

Suppose You Have a Credit Card Balance of $500 That