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Jennifer is charged interest of 19.99% per annum on her credit card. Dec-01 Jennifer withdrew $500 as a cash advance from her credit card. Dec-31
Jennifer is charged interest of 19.99% per annum on her credit card. | ||||||||
Dec-01 | Jennifer withdrew $500 as a cash advance from her credit card. | |||||||
Dec-31 | Jennifer received her credit card statement, showing a minimum balance owing of $10, due by January 12 | |||||||
Jan-12 | Jennifer paid the minimum balance of $10 | |||||||
Feb-12 | Jennifer paid the minimum balance of $10 | |||||||
Mar-12 | Jennifer paid the minimum balance of $10 | |||||||
Apr-01 | Jennifer paid the full balance owing |
Compute the amount of interest charged during the month of December
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