Economics Homework Help

I’m working on a finance question and need an explanation to help me study.

Alana applied for a new credit card that had a lower interest rate of 16.9% compounded daily. The terms of her new credit card are similar to her old one:

1) For any payment she makes within a month from the date of purchase, she will be charged no interest.

2)However, if she does not pay off the full balance, interest is charged daily on the remaining balance effective from the date of purchase.

3) Every month she must make a minimum payment.

On November 30, Alana completed all of her Christmas shopping using her new credit card. Also, she did not make any other purchases in the following months.

On December 31, Alana made a payment of $100, and on the last days of January to May, respectively, she made the minimum payment of $20 that was charged on her credit card. After the May 31 payment, the balance on her card was $610.06. (Hint: Remember, interest is not charged on any payments she made within the first month.)

What was the value of all the purchases she made on November 30?