Question

Brians statement shows a previous balance of $4248.64, a payment of $250, and new transactions totalling $326. What is his new balance if his APR is 12.3%

A. $3998.64
B. $4365.63
C. $4368.97
D. $5064.47

Answer 1

New balance
4,248.64−250+326+(3,998.64×(0.123/12))
=4,365.63