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Moniques credit card charges interest of 20.85% per annum on unpaid balances on her march 12 statement. she had a balance of $7...Question
Monique's credit card charges interest of 20.85% per annum on unpaid balances. On her March 12 statement, she had a balance of $739.65. By the due date, she made the minimum payment (5% or 10.00, whichever is greater)On March 16, she made a purchase of $179.39.
a) if she makes no other purchases or payments, what will her balance be on her next payment, dated April 12?
b.) On her April 12 statement, what will her minimum payment be?
a) if she makes no other purchases or payments, what will her balance be on her next payment, dated April 12?
b.) On her April 12 statement, what will her minimum payment be?
Answers
Henry
a. Bal = 739.65 - 0.05*739.65 + 179.39 =
$882.06
b. P min = 0.05 * 882.06
$882.06
b. P min = 0.05 * 882.06