Answer:
Finance Charge = $1.42
New Account Balance = $90.02
Step-by-step explanation:
APR (Annual Percentage Rate) = 22%
Periodic Rate = 1.83% (APR/12)
Beginning Balance = $102.33
Payment made on 15th day = $25.00
Purchase made on 25th day = $11.27
Finance Charge = (Beginning Balance - Payment made on 15th day) x Periodic Rate
Finance Charge = ($102.33 - $25.00) x 0.0183
Finance Charge = $77.33 x 0.0183
Finance Charge = $1.42
New Account Balance = Beginning Balance - Payment made on 15th day + Purchase made on 25th day + Finance Charge
New Account Balance = $102.33 - $25.00 + $11.27 + $1.42
New Account Balance = $90.02
