Jason uses his credit card for all his monthly expenses. He pays only the minimum payment required every month. The credit card company charges him interest that is compounded monthly and a penalty for a missed payment. Based on how principal and interest compound over time, is he doing the right thing by making the minimum payment? Justify your answer.

Jason uses his credit card for all his monthly expenses He pays only the minimum payment required every month. The credit card company charges him interest that is compounded monthly and a penalty for a missed payment Based on now principal and interest compound over time, is he doing the right thing by making the minimum payment? Justify your answer Jason uses his credit card for all his monthly expenses He pays only the minimum payment required every month. The credit card company charges him interest that is compounded monthly and a penalty for a missed payment Based on now principal and interest compound over time, is he doing the right thing by making the minimum payment? Justify your