Elena Fargas Charge account statement shows unpaid balance of $6982.25 the monthly finance charge is 1.55% of unpaid ba

Find my detailed explanations and computations below

Explanation:

In essence, based on the unpaid balance of $6982.25 with a monthly interest rate of 1.55%, the finance charge on the unpaid balance can be determined as the unpaid balance multiplied by the monthly interest rate as shown

The finance charge for the month=unpaid balance*monthly interest

The finance charge for the month=$6982.25*1.55%

The finance charge for the month=$108.22

The balance owed altogether is the unpaid balance plus the finance charge on the unpaid balance

Total  balance unpaid=$6982.25+$108.22

Total balance unpaid=$7,090.47

answerthe above statement is false;