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Jessica's credit card is on a 30-day billing cycle, and it computes finance charges using the adjusted balance method. The following table details Jessica's use of her credit card in the month of October.

\begin{tabular}{|c|r|c|}
\hline Date & Amount (\[tex]$) & Transaction \\
\hline $[/tex]10/1[tex]$ & $[/tex]1,240.55[tex]$ & Beginning balance \\
\hline $[/tex]10/2[tex]$ & 36.43 & Purchase \\
\hline $[/tex]10/10[tex]$ & 75.00 & Payment \\
\hline $[/tex]10/13[tex]$ & 131.79 & Payment \\
\hline $[/tex]10/20[tex]$ & 41.52 & Purchase \\
\hline $[/tex]10/22[tex]$ & 25.00 & Purchase \\
\hline
\end{tabular}

What is Jessica's adjusted balance for October?

A. $[/tex]\[tex]$ 1,136.71$[/tex]

B. [tex]$\$[/tex] 1,033.76[tex]$

C. $[/tex]\[tex]$ 1,140.55$[/tex]

D. [tex]$\$[/tex] 1,240.55$



Answer :

GinnyAnswer
Let's determine Jessica's adjusted balance for October by following her transaction history step by step.

1. Initial balance (October 1): Jessica starts with a balance of \[tex]$1,240.55. 2. Transaction on October 2: Jessica makes a purchase of \$[/tex]36.43. This purchase increases her balance.
[tex]\[ \text{New Balance} = 1240.55 + 36.43 = 1276.98 \][/tex]

3. Transaction on October 10: Jessica makes a payment of \[tex]$75.00. This payment reduces her balance. \[ \text{New Balance} = 1276.98 - 75.00 = 1201.98 \] 4. Transaction on October 13: Jessica makes another payment of \$[/tex]131.79. This payment further reduces her balance.
[tex]\[ \text{New Balance} = 1201.98 - 131.79 = 1070.19 \][/tex]

5. Transaction on October 20: Jessica makes a purchase of \[tex]$41.52. This purchase increases her balance. \[ \text{New Balance} = 1070.19 + 41.52 = 1111.71 \] 6. Transaction on October 22: Jessica makes another purchase of \$[/tex]25.00. This purchase further increases her balance.
[tex]\[ \text{Final Adjusted Balance} = 1111.71 + 25.00 = 1136.71 \][/tex]

Thus, Jessica's adjusted balance for October is:

[tex]\[ \boxed{1136.71} \][/tex]

The correct answer is:
a. [tex]$\$[/tex]1,136.71$.

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