You have credit card debt of

$37,500

that has an APR (monthly compounding) of

18%.

Each month you pay the minimum monthly payment only. You are required to pay only the outstanding interest. You have received an offer in the mail for an otherwise identical credit card with an APR of

11%.

After considering all your alternatives, you decide to switch cards, roll over the outstanding balance on the old card into the new card, and borrow additional money as well. How much can be borrowed today on the new card, in total (the rolled over amount plus additional borrowings), without changing the minimum monthly payment you will be required to pay?

Note: Make sure all calculations are held to at least five (5) decimal places.