A machine shop has a credit card that offers rebates on purchases. At the end of May, the company had a credit card bill of $18,459.26. If the company must make a minimum payment that is the greater of $500 or 4.5% of the credit card bill, what is the minimum monthly payment for May?

A machine shop has a credit card that offers rebates on purchases. At the end of May, the company had a credit card bill of $18,459.26. If the company must make a minimum payment that is the greater of $500 or 4.5% of the credit card bill, what is the minimum monthly payment for May?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

Sam Song plans to buy a $16,000 Ford Focus with an interest charge of $4,000. Sam figures he can afford a monthly payment of $400. If Sam must pay 40 equal monthly payments, can he afford the Ford Focus?
On January 1, 2009, Deandre owed $9,230 to his friend Mariah, who was kind enough not to charge Deandre any interest. Each month during 2009, Deandre paid Mariah some of the money he owed. If Deandre still owed Mariah $2,078 on January 1, 2010, what was the average amount of Deandre's monthly payments? %$4
If your monthly salary is $5,167 and 28% is withheld for taxes and social Security, How much will be withheld from your check payday?
If your credit card balance is $ 410.35, what would be the minimum payment on your bill if you are required to pay the greater of $10 or 3% of what you owe? *
In 2010, the U.S. Congress passed the Affordable Care Act. This law requires most Americans to purchase health insurance for themselves and members of their family. The Juarez family has a health insurance plan that will reimburse them for 70% of their health care expenses after they pay a $5,200 deductible. Last year, the Juarez family had medical expenses that totaled $16,384. What is the amount paid by the Juarez family’s insurance company?Answer: Work/Explain: Please write clearly so i can read it
A credit card company offers an annual 2% cash-back rebate on all gasoline purchases. If a family spent $7250 on gasoline purchases over the course of a year, what was the family's rebate at the end of the year?
Abby's credit card statement shows a balance of $135.50 at the beginning of the month. During the month she makes purchases of $63.83.Each month a 1.5% interest charge is added to the statement balance. Abby then makes a payment of $50.00.What is her new balance?
Sarah's comprehensive major medical health insurance plan at work has a deductible of $750. The policy pays 85 percent of any amount above the deductible. While on a hiking trip, she contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a six-day hospital stay, totaled $8,893. A friend told her that she would have paid less if she had a policy with a stop-loss feature that capped her out-of-pocket expenses at $3,000. The policy with the stop-loss feature has the same deductible and coinsurance requirement as Sarah's current policy. Determine which policy would have cost Sarah less and by how much. (Round your intermediate calculations and final answer to 2 decimal places.) Current policy Stop-loss feature No difference in Sarah's cost for this claim. Difference amount
On May 28, 2020, Amy purchased a Government of Canada T-bill that matures on August 4, 2020. How much did Amy pay for the investment if $10,000 will be received on August 4, 2020 and the rate of simple interest is 1.35%?
Oprah Winfrey has closed on a 42-acre estate near Santa Barbara, California, for $52,000,000. If Oprah puts 30% down and finances at 6.5% for 30 years, what would her monthly payment be? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)
A credit card account had a $235 balance on March 5. A purchase of $146 was made on March 12, and a payment of $100 was made on March 28. Find the average daily balance if the billing date is April 5.
Alejandro put down a deposit of $70.00 on a graduation ring, and he then began making weekly payments of $12.50 until the ring was fully paid for. If the price of the graduation ring was $225.00 how many weekly payments of $12.50 did Alejandro make? A- 3 B- 6 C- 12 D- 18 E- 24