A student has a credit card that is only used for school expenses. Their fall tuition was $1308, and
the cost of books was $190. Both of these are put onto their credit card.
a) Suppose these are the only two expenses on their credit card. When the bill arrives, they pay the
minimum payment of $30. How much will be left on their credit card bill and therefore subject to
interest?
$ 1389
x
b) If the annual interest rate for their credit card is 18.99% , what is the periodic (monthly) interest
rate, to 2 decimal places?
$
196
c) How many dollars of interest will be added to their bill for the next month, to the nearest cent?
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