credit card word problem

Question

John Rawlings credit card statement for June 30 showed a previous balance for $248.67 and new purchase for $59.89 on 6/10, $15 on 6/15, and $28.97 on 6/17. He made a payment of $248.67 on 6/27. What is John's new balance?

Answer 1

A person's bank or credit card statement always shows the transactions that took place before the date the statement was produced.  Since the statement was for June 30th, the statement will show the $59.89, $15, and $28.97.

 

 

Since he paid $248.67 after all the dates charged and his previous balance was the same as his payment, his balance will be $0.00.  This means he owes nothing at this point.

 

But wait, he made three purchases.  So we need to add up those purchases to find his new balance.

 

$59.89 + $15 + $28.97 = $103.86

 

 

John's new balance is $103.86