Answer:
Option D - $4831.91
Step-by-step explanation:
Given : Marco's unpaid credit card balance is $4332.75. His APR is 18.6%.
He made one new transaction for $432.
To find : what is his new balance?
Solution :
We have given unpaid balance = $4332.75
and rate of interest= 18.6%=0.186
Now, we find the finance charge
Finance charge = Finance rate × Unpaid balance
Finance charge = [tex]\frac{0.186}{12} \times 4332.75[/tex]
Finance charge = $67.157
New balance = Unpaid balance + finance charge + new transaction
New balance = $4332.75 +$67.157+ $432
New balance =$4831.91
Therefore, Option D is correct.
