SOLUTION: Darren just got his credit card bill. His payment is due on November 13th. The minimum payment is $25, while his balance is $1396. How much should he pay by November 13th in order

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Darren just got his credit card bill. His payment is due on November 13th. The minimum payment is $25, while his balance is $1396. How much should he pay by November 13th in order       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


   



Question 1167985: Darren just got his credit card bill. His payment is due on November 13th. The minimum payment is $25, while his balance is $1396. How much should he pay by November 13th in order to avoid ALL interest and late fees?

Answer by MathLover1(20849) About Me  (Show Source):
You can put this solution on YOUR website!

answer: he should pay $1396 by November 13th

explanation:
Avoiding interest charges boils down to one simple concept: don’t carry a balance. The simplest way to avoid interest is to pay your credit card bill in full each month. When you pay off the total balance by the due date, you won’t owe any interest.
Payment Due Date: November 13th
Balance: $1396
If you pay off your balance by November 13th, you won’t owe interest on purchases made during the billing cycle.