Chapter 7: Charge and Credit Cards
 1. Greg Forrester's charge account statement showed a previous balance of \$152.35, a finance charge of \$1.78, new purchases of \$45.23 and \$15.67, a payment of \$50.00, and a credit of \$12.84. What is the new balance?
 a. \$152.19 b. \$152.51 c. \$227.87 d. \$277.87
 2. Cynthia Roberts has a charge account at Harry's Hardware, which uses the unpaid-balance method of computing finance charges. The periodic rate is 1.5 percent. Ms. Roberts's previous balance is \$178.85, and she had payments and credits of \$74.00. If she has new purchases of \$98.74, what is her new balance?
 a. \$305.39 b. \$206.64 c. \$205.16 d. \$156.42
 3. Pedro Guarante has a charge account at Art's Supplies. The finance charge is computed using the average-daily-balance method where new purchases are not included. Guarante's previous balance is \$145.00, and the billing period is from April 1–April 30. On April 10, Guarante made a \$50.00 payment. On April 20, he made a purchase of \$63.45. What is his average daily balance?
 a. \$95.00 b. \$110.00 c. \$132.82 d. \$158.45
 4. Wendy Hoyt has a charge account where the finance charge is computed using the average-daily-balance method that includes new purchases. The billing period is from June 1–30. Her previous balance is \$112.34. On June 12, she made a payment of \$25.00, and on June 18, she made a purchase of \$54.68. What is her average daily balance?
 a. \$32.66 b. \$82.66 c. \$120.20 d. \$142.02
 5. Glen Keenan's charge account statement showed a previous balance of \$97.52, a finance charge of \$1.46, new purchases of \$12.96 and \$54.00, a payment of \$30.00, and a credit of \$26.99. What is the new balance?
 a. \$108.95 b. \$195.94 c. \$192.93 d. \$222.93
 6. Elena Martinez's charge account showed a previous balance of \$218.97, a finance charge of \$3.28, new purchases of \$46.78 and \$24.32, a payment of \$40.00, and a credit of \$23.09. What is the new balance?
 a. \$81.50 b. \$207.68 c. \$230.26 d. \$356.44
 7. Telitha Smith has a charge account which uses the unpaid-balance method of computing finance charges. The periodic rate is 1.5 percent. Ms. Smith's previous balance is \$47.25, and she had payments and credits of \$26.85. If she has new purchases of \$113.68, what is her new balance?
 a. \$81.50 b. \$134.08 c. \$136.09 d. \$134.39
 8. Guido Spano has a charge account at Orange County Tile. The finance charge is computed using the average-daily-balance method where new purchases are not included. Spano's previous balance is \$317.94, and the billing period is from September 1–30. On September 12, Spano made a \$75.00 payment. On Septmember 24, he made a purchase of \$157.84. What is his average daily balance?
 a. \$104.84 b. \$270.44 c. \$315.37 d. \$400.78
 9. Tamara Verri has a charge account where the finance charge is computed using the average-daily-balance method that includes new purchases. The billing period is from November 1–30. Her previous balance is \$162.54. On November 12, she made a payment of \$50.00, and on November 18, she made a purchase of \$32.37. What is her average daily balance?
 a. \$44.69 b. \$144.90 c. \$180.18 d. \$244.91
 10. Hunter Schatzel has a charge account which uses the unpaid-balance method of computing finance charges. The periodic rate is 1.5 percent. Hunter's previous balance is \$98.56, and he had payments and credits of \$47.97. If he has new purchases of \$136.85, what is his new balance?
 a. \$9.68 b. \$51.35 c. \$187.44 d. \$188.20