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Last month, Kaitlin's average daily balance on her credit card was $1,243.41. The annual interest rate on that credit card is 15.09%. The minimum payment on that card is the interest charge ( |= B. 365 n) plus 3% of the ending balance or $25, which ever is larger. If there were 30 days in that month and the ending balance was $1,937.36, 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

Last month, Kaitlin's average daily balance on her credit card was $1,243.41. The annual interest rate on that credit card is 15.09%. The minimum payment on that card is the interest charge ( |= B. 365 n) plus 3% of the ending balance or $25, which ever is larger. If there were 30 days in that month and the ending balance was $1,937.36, 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

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Last month, Kaitlin's average daily balance on her credit card was $1,243.41. The annual interest rate on that credit card is 15.09%. The minimum payment on that card is the interest charge ( n) plus 3% of the ending balance or $25, which ever is larger. If there were 30 days in 365 that month and the ending balance was $1,937.36, what would be the minimum payment that | = B - 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 $1,243.41. The annual interest rate on that credit card is 15.09%. The minimum payment on that card is the interest charge ( n) plus 3% of the ending balance or $25, which ever is larger. If there were 30 days in 365 that month and the ending balance was $1,937.36, what would be the minimum payment that | = B - 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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