Question

The minimum monthly payment for Janet's credit card is 2% of her balance or $10, whichever is greater. If Janet's balance at the end of her last billing cycle was $760, what is her minimum monthly payment? a) 25.20 b)15.20 c)5.20 d)10

Answer 1

$15.20

Step-by-step explanation:

Answer 2

The correct answer is: Option (b) 15.20

Step-by-step explanation:
At the end of her last billing the amount = $760

The minimum monthly payment of Janet's card is 2%.

To find the monthly payment, we need to find the 2% of $760.

Therefore,
$760 * 2 / 100 = $15.20 > $10

Hence the correct answer is $15.20.