Mathematics, 15.06.2021 07:00 nahimi
Shiing shen cherns credit card company determines his minimum monthly payment by adding all new interest to 1% of the outstanding principal. The credit card company charges an interest rate of 0.040273% per day. On March 16, shiing uses his credit card to purchase airline tickets for his family for $3600. He makes no other purchases during March. Use the given information and the rule that minimum payments are rounded up to the nearest dollar to answer parts a and b below. Assuming shiings had no new interest, determine shiings minimum payment due on April 1, his billing date. On April 1, instead of making the minimum payment, shiing makes a payment of $500, assuming there are no additional charges or cash advances, determine shiings minimum payment due on May 1.
Answers: 1
Mathematics, 21.06.2019 16:40
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Shiing shen cherns credit card company determines his minimum monthly payment by adding all new inte...
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