Question

You have a credit card balance of $1407.64. If you make a payment of $75.00 and the credit card company is charging you 1.4% monthly. What will be your remaining balance on the next statement?

Answer 1

Okay so basically your next months credit card charge will be 100% of your previous balance plus an added 1.4%. Which is 101.4%. Then you subtract the $75 from that balance.
Is. =. %
Of. 100

X = 101.4
(1407.64). 100
Cross multiply

100x= 142734.696
Divide by 100
1427.34696 - 75(the money you are going to pay)

=1352.34696
Which will be approximately 1352.35