Amari has a previous balance of $691 on a credit card .
Interest rate is 17.1% APR compounded monthly.
Amari has made a payment of $95 this month.
Balance Amount[tex] 691-95=596 [/tex]$
Now using the given interest rate we can find the new balance amount as below:
New Balance Amoiunt=$596+$596*[tex] \frac{17.1}{100}=$596+(10191.6)/(100)\\ [/tex]
New Balance Amoiunt=[tex] $596+$101.916 [/tex]=$[tex] 697.916 [/tex]
Hence New balance on the credit card is $697.916
