Concept explainers
To calculate:Wes charged $175 for clothing and $287 for camera equipment. he then made two payments of $50 each to his charge account. The next bill showed that he owed a balance of $495.25, including $11.50 in interest charges. How much did Wes owe on the account before making his purchase?
Answer to Problem 15P
Wes owed $121.75 before the purchases
Explanation of Solution
Here, charged means positive, payment means negative and interest means positive
Charged $175 means +175, charged $287means +287, two payments of $50 means -50*2 = -100, interest of $11.50 means +11.50
Now we add all the values to find that how much Wes owed
Now according to the question,
Wes owed $121.75
Conclusion:Wes owed $121.75 before the purchases.
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