To determine the new balance at the end of month 7, let's break down the given information step-by-step, taking into account all the relevant factors:
1. Previous Balance: This is the balance carried over from the end of the previous month. According to the table, at the end of month 6, Lanny's previous balance is [tex]$74.33.
2. New Charges: These are the additional charges made during the month. For month 7, the new charges are $[/tex]99.00.
3. Payment Received: This is the amount paid towards the credit card debt during the month. For month 7, the payment received is [tex]$91.98.
4. Finance Charges: These are the charges assessed for carrying a balance on the credit card. The finance charges for month 7 are $[/tex]2.04.
To calculate the new balance, we need to consider the following formula:
[tex]\[ \text{New Balance} = \text{Previous Balance} + \text{New Charges} + \text{Finance Charges} - \text{Payment Received} \][/tex]
Substitute the values from month 7:
[tex]\[ \text{New Balance} = 74.33 + 99.00 + 2.04 - 91.98 \][/tex]
Now let's perform the calculations step by step:
1. Add Previous Balance and New Charges:
[tex]\[ 74.33 + 99.00 = 173.33 \][/tex]
2. Add Finance Charges:
[tex]\[ 173.33 + 2.04 = 175.37 \][/tex]
3. Subtract Payment Received:
[tex]\[ 175.37 - 91.98 = 83.39 \][/tex]
Therefore, the new balance at the end of month 7 is:
[tex]\[ \boxed{\$ 83.39} \][/tex]
So, the correct option is:
C. [tex]\(\$ 83.39\)[/tex]
