Question

The minimum monthly payment for Cody's credit card is 2% of his balance or $20, whichever is higher. If Cody's balance at the end of his last billing cycle was $870, what is his minimum monthly payment?

Answer 1

2 % of 870 = $ 17.4

$ 17.4 is less than $ 20

Since the higher amount is deducted, his monthly charges would be $20.

Hope this helps! :D

Answer 2

$20

Explanation:

It is clear that deduction will be either
`2\\` percent or $20 , whichever is greater

Lets evaluate 2 percent of the last bill of
`870\\`

`(2)/(100) * 870 \\= 17.4\\`

Thus, $17.4 is less than $ 20

Thus, $20 will be the minimum monthly payment