Question

The minimum monthly payment for Anita's credit card is 2% of her balance or $10, whichever is greater. If Anita's balance at the end of her last billing cycle was $360, what is her minimum monthly payment?

A. $17.20

B. $2.80

C. $10.00

D. $7.20

Answer 1

C. $10.00

Explanation:

She has to pay which ever is greater.

To get whichever is greater you need to check what 2% of her last billing cycle. That would be done by multiplying .02 and 360. That equals $7.20.

10>7.20 and therefore the answer would be 10 dollars aka C.