Which method for calculating credit card balances is best for the customer who made a large purchase in the current month but has not made any payments yet?
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You have a credit card account with a previous balance of $635. You added two additional purchases for $75 and $50 during this billing period. You made a payment of $150. Your APR is 16.5%. Using the adjusted balance method, what is your new balance?
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"I have a credit card whose billing period begins on the 9th day of every month. On January 9th my balance was $853. I made the following charges: $95 on Jan 11, $235 on Jan 18, and $490 on Jan 30. I paid $500 on Jan 20. My card's interest rate is 19%. What will be the total balance on my Feb 9th statement?"
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