Math question help please, hopefully with details?

Question

Katie had an unpaid balance of $1,734.50 on her credit card statement at the beginning of January. She made a payment of $165.00 during the month. If the interest rate on Katie's credit card was 7% per month on the unpaid balance, find the finance charge and the new balance on February 1.

Answer 1

Ok, if it's 7% of the unpaid balance you subtract 165 from 1,734.50 (remaining balance).

Then you multiply the answer by 7 and divide it by 100 (interest amount).

Then you take the first answer and add the second answer to come up with the new balance ( old balance plus interest equals new balance.

Answer 2

O_o your expecting me to awnser this? I SUCK AT MATH!

Answer 3

First subtract the payment of 165 from the original balance 1734.50 and you get 1569.50 as the remaining balance for the month.  But to figure the 7% charge on it multiply 1.07 with 1569.50 and you get 1679.37 as you new balance.  To get the finance charge multiply 1569.50 by 0.07 and the finance charge is 109.87.  Got it?