A machine shop has a credit card that offers rebates on purchases. A the end of Hay, the company had a credit card bi of S18,471.32. Ir the company must make a minmum payment that is the greater of $500 or 4.5% of the credit card bill, what is the minimum monthly payment for May? (Round your answer to the nearest cent.) Sbmt Anewer
A machine shop has a credit card that offers rebates on purchases. A the end of Hay, the company had a credit card bi of S18,471.32. Ir the company must make a minmum payment that is the greater of $500 or 4.5% of the credit card bill, what is the minimum monthly payment for May? (Round your answer to the nearest cent.) Sbmt Anewer
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Transcribed Image Text:A machine shop has a credit card that offers rebates on purchases. At the end of May, the company had a credit card bil of $18,471.32. If the company must make a minmum payment that is the
greater of $500 or 4.5% of the credit card bill, what is the minimum monthly payment for May? (Round your answer to the nearest cent.)
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