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18. 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. (Points: 1)

Finance charge = \$119.53; new balance = \$1,689.03

Finance charge = \$121.42; new balance = \$1,690.92

Finance charge = \$125.53; new balance = \$1,695.03

Finance charge = \$131.56; new balance = \$1,701.06

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