To determine the new balance at the end of month 7, we need to examine the relevant transactions that have taken place within that month. Here is a breakdown of the transactions and how they impact the new balance:
1. Previous Balance:
- At the end of month 6, the balance was \[tex]$0.00.
2. New Charges:
- Sally made new charges amounting to \$[/tex]158.00.
3. Payment Received:
- A payment of \[tex]$28.11 was made to the credit card account.
4. Finance Charges:
- There are no finance charges for this month (0.00).
To calculate the new balance, we follow these steps:
\[
\text{New Balance} = \text{Previous Balance} + \text{New Charges} - \text{Payment Received} + \text{Finance Charges}
\]
Substituting the given values:
\[
\text{New Balance} = 0.00 + 158.00 - 28.11 + 0.00
\]
Performing the arithmetic:
\[
\text{New Balance} = 129.89
\]
Therefore, the new balance at the end of month 7 is \$[/tex]129.89.
