On Joey’s credit card, interest is charged at a rate of 19.99% per annum.
December 1 Joey withdrew $300 as a cash advance from his credit card.
December 31 Received the credit card statement, showing a minimum balance owing of $10, due by January 12.
January 12 Joey pays the minimum balance of $10.
February 12 Joey pays the minimum balance of $10.
March 12 Joey pays the minimum balance of $10.
April 1 Joey pays the full balance owing.
(a) Compute the amount of interest charged during the month of December.
(b) What does the balance owe at the end of January?
(c) What does the balance owe at the end of February?
(d) What does the balance owe at the end of March?