A student has a credit card that is only used for school expenses. Their fall...
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A student has a credit card that is only used for school expenses. Their fall tuition was $1295, and the costof books was $100. 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 theminimum payment of $30. How much will be left on their credit card bill and therefore subject to interest?b) If the annual interest rate for their credit card is 17.99%, what is the periodic (monthly) interest rate, to 2 decimal places?c) How many dollars of interest will be added to their bill for the next month, to the nearest cent?
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