A credit card company determines a card holder's minimum monthly payment by adding all new interest to 1.5% of the outstanding principal The credit card company charges an interest rate of 0.05765% per day On November 20, a customer used his credit card to pay for the following business expenses van repairs (5720) equipment maintenance (5358), office supplies (550) and dinner with clients ($133) Use the given information and the rule that minimum payments are rounded up to the nearest dollar to answer parts a and b below a Assuming the card holder had no new interest determine his minimum payment due on December 1, his billing date The card holder's minimum payment due on December 1 is
A credit card company determines a card holder's minimum monthly payment by adding all new interest to 1.5% of the outstanding principal The credit card company charges an interest rate of 0.05765% per day On November 20, a customer used his credit card to pay for the following business expenses van repairs (5720) equipment maintenance (5358), office supplies (550) and dinner with clients ($133) Use the given information and the rule that minimum payments are rounded up to the nearest dollar to answer parts a and b below a Assuming the card holder had no new interest determine his minimum payment due on December 1, his billing date The card holder's minimum payment due on December 1 is
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Transcribed Image Text:A credit card company determines a card holder's minimum monthly payment by adding all new interest to 1.5% of the outstanding principal. The credit card company charges an interest rate of 0.05765% per day. On November 20, a customer used his credit card to pay for the following business expenses: van repairs ($720), equipment maintenance ($398), office supplies ($60), and
dinner with clients ($133). Use the given information and the rule that minimum payments are rounded up to the nearest dollar to answer parts a and b below.
a. Assuming the card holder had no new interest, determine his minimum payment due on December 1, his billing date.
The card holder's minimum payment due on December 1 is $.
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