Question: Please help me solve this question, and show all work. Thank you :) Shiing Shen Chern's credit card company determines his minimum monthly payment by
Shiing Shen Chern's credit card company determines his minimum monthly payment by adding all new interest to 1% of the outstanding principal. The credit card company charges an interest rate of 0.038296% per day. On March 12, Shing uses his credit card to purchase airline tickets for his family for $2000. He makes no other purchases during March. Use the given information and the rule that minimum payments are rounded up to the nearest dollar to answer parts a and b below. a) Assuming Shiing had no new interest, determine Shing's minimum payment due on April 1, his billing date. Shiing's minimum payment due on April 1 is $ 20. b) On April 1, instead of making the minimum payment, Shiing makes a payment of S600. Assuming there are no additional charges or cash advances, determine Shiing's minimum payment due on May 1. Shiing's minimum payment due on May 1 is $ 311 Question is complete. Tap on the red indicators to see incorrect answers
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