Question

note: please make sure to properly format your answers. all dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($2,354.67). all percentage values in the answers need to include a percentage sign (%). for all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06). rebecca has a credit limit of $6,500 on her credit card. she had a previous balance of $398.54 and made a $250 payment. the total of her purchases is $1,257.89. what is rebeccas available credit?

Explanation:

Step1: Calculate the total amount owed

The total amount owed is the previous balance plus purchases minus payment.

$$398.54 + 1257.89- 250$$

$$=(398.54 + 1257.89)- 250$$

$$=1656.43 - 250$$

$$=1406.43$$

Step2: Calculate available credit

Available credit is credit limit minus total amount owed.

$$6500-1406.43$$

$$ = 5093.57$$

Answer:

\(\$5,093.57\)