Phil had an unpaid balance of $1854.50 on his credit card statement at the beginning of December He made a payment of $45 during the month If the interest rate on Phil's credit card was 2.5% per month on the unpaid balance find the finance charge and the new balance on January 1 Finance charge = $44.47; new balance = $1,853.97 Finance charge = $50.47; new balance = $1,859.97 Finance charge = $56.50; new balance = $1,866.00 Finance charge = $46.36; new balance = $1,855.86