1. B13: I can find the new balance on a credit card statement.

2. New Balance = Previous Balance + Finance Charge + New Purchases – Payments – Credits( like returns)

3. Example: Malcolm Turner’s charge account statement showed a previous balance of $270.49, a finance charge of $4.05, new purchases of $44.62 and a payment of $225.00. What is the new balance?

4. Previous Balance = $270. 49 Finance Charge = $4.05 New Purchases = $44.62 Payments = $225.00 Credits = $0.00 New Balance = ( $270.49 + $4.05 + $44.62) = $319.16 - $225.00 - $0.00 = $94.16

5. B13: p. 259 #3, 4, #11-15. Show your work.