Monique's credit card charges interest of 20.85% per annum on unpaid balances. On her March 12 statement , she had a balance of $739.65. By the due date, she made the minimum payment (5% or $10.00, whichever is greater.). On March 16 she made a purchase of $179.39.

a. if she makes no other purchases or payments, what will her balance be on her next statement, dated April 12?
b. on her April 12 statement, what will her minimum payment be?

A.= 894.27 $

B.= 44.71$

Pink Floyd needs to learn to put the dollar sign in FRONT of the answers!!

% <~~This sign goes after numerals.
$ <~~This sign goes BEFORE the numerals.

To answer these questions, we need to consider the interest charges and minimum payment requirements.

a. To find Monique's balance on her next statement, we need to calculate the interest on the unpaid balance and add it to the previous balance:

1. Calculate the interest on the unpaid balance: Multiply the unpaid balance by the annual interest rate and divide by 365 to get the daily interest rate.

Daily interest rate = ($739.65 * 0.2085) / 365 = $0.4186191781

2. Calculate the number of days between March 12 and April 12: There are 31 days between these two dates.

3. Calculate the interest for the number of days: Multiply the daily interest rate by the number of days.

Total interest = $0.4186191781 * 31 = $12.9695693891

4. Add the interest to the previous balance:

New balance = Previous balance + Total interest = $739.65 + $12.9695693891 = $752.6195693891

Therefore, Monique's balance on her next statement, dated April 12, will be approximately $752.62.

b. To determine Monique's minimum payment on her April 12 statement, we need to consider the minimum payment requirement:

1. Calculate 5% of the balance:

5% of $752.62 = $37.63

2. Calculate the minimum payment based on the previous step's result and the minimum payment threshold of $10.00:

Minimum payment = Maximum($37.63, $10.00) = $37.63

Therefore, on her April 12 statement, Monique's minimum payment will be $37.63.