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Mathematics, 17.12.2020 09:50 fili20
A credit card company determines the minimum monthly payment by adding any new interest owed to 1.2% of the outstanding principal. The credit card Company charges an interest rate of 0.05173% per day.
A purchase was made on November 19th for $2500. There were no other charges made that month. Instead of making minimum payments, there is a payment made of &740 on December 1. There were no additional charges or cash advances in November or December
There are 30 days in November and 31 days in December.
Determine the minimum payment due on January 1. Round your answer to the nearest dollar.
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