Last month, Kaitlin's average daily balance on her credit card was $1,137.61. The annual interest rate on that credit card is 16.96%. The minimum payment on that card is the interest charge ( |= B. n) plus 2% of the ending balance or $25, which ever is larger. If there were 30 days in 365 that month and the ending balance was $1,888.55, what would be the minimum payment that Kaitlin could make? Round your answer to the nearest penny. Input the number. Do not input the dollar sign. Do not use a comma. Example: 89.65

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Last month, Kaitlin's average daily balance on her credit card was $1,137.61. The annual interest
rate on that credit card is 16.96%. The minimum payment on that card is the interest charge (
r
•n) plus 2% of the ending balance or $25, which ever is larger. If there were 30 days in
365
that month and the ending balance was $1,888.55, what would be the minimum payment that
Kaitlin could make?
Round your answer to the nearest penny. Input the number. Do not input the dollar sign. Do not
use a comma. Example: 89.65
Transcribed Image Text:Last month, Kaitlin's average daily balance on her credit card was $1,137.61. The annual interest rate on that credit card is 16.96%. The minimum payment on that card is the interest charge ( r •n) plus 2% of the ending balance or $25, which ever is larger. If there were 30 days in 365 that month and the ending balance was $1,888.55, what would be the minimum payment that Kaitlin could make? Round your answer to the nearest penny. Input the number. Do not input the dollar sign. Do not use a comma. Example: 89.65
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