Jeremy Stahl's credit card which has a 15% APR requires a minimum payment of 3% of the current balance each billing cycle. Jeremy's current balance is $368.79, and his credit card company uses the previous balance method and a monthly periodic rate for
calculating finance charges. What is the minimum payment due? If Jeremy makes the minimum payment, what will his balance be next month if he makes no additional purchases?
$11.06, $362.34
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