A credit card company determines a card holder's minimum monthly payment by adding all new interest to 1.5% of the outstanding principal. The credit card company charges an interest rate of .05296% per day. On November 14, a customer used his credit card to pay for the following business expenses: van repairs $730, equipment maintenance $447, office supplies $118, and dinner with clients $187. Use the given information and the rule that minimum payments are rounded up to the nearest dollar to answer parts a and b below.

Assuming the card holder had no new interest, determine his minimum payment due on December 1, his billing date.

The card holder's minimum payment due on December 1 is

$.

Part 2

b. On December 1, instead of making his minimum payment, the card holder makes a payment of

$200.

Assuming there are no additional charges or cash advances, determine the card holder's minimum payment on January 1.

The card holder's minimum payment due on January 1 is

$.