Last month, Kaitlin's average daily balance on her credit card was $1,389.12. The annual interest rate on that credit card is 17.85%. The minimum payment on that card is the interest charge ( I= B. •n) plus 3% of the ending balance or $25, which 365 ever is larger. If there were 28 days in that month and the ending balance was $1,916.47, 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 $1,389.12. The
annual interest rate on that credit card is 17.85%. The minimum payment on that card
is the interest charge ( I= B .
•n) plus 3% of the ending balance or $25, which
365
ever is larger. If there were 28 days in that month and the ending balance was
$1,916.47, 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 $1,389.12. The annual interest rate on that credit card is 17.85%. The minimum payment on that card is the interest charge ( I= B . •n) plus 3% of the ending balance or $25, which 365 ever is larger. If there were 28 days in that month and the ending balance was $1,916.47, 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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