Credit card finance charges

Assignment Help Financial Management

Reference no: EM131980997

Credit Card Finance Charges. Troy has a credit card that charges 22% outstanding balances and on cash advances. The closing date on the credit card is the first of each month. Last month Troy left a balance on his credit card of ?$218 This month Troy took out a cash advance of ?$171 and made ?$378 in purchases. Troy made a payment of ?$238 What will the total of? Troy's new balance be on his credit card? statement, taking into account finance? charges? (Assume the adjusted balance method is used and finance charges on the cash advance are applied for the entire? month)

The total of? Troy's new balance on his next credit card? statement, taking finance charges into? account, is ? ?

Reference no: EM131980997

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