The minimum monthly payment for Alicia's credit card is 2% of her balance or $10, whichever is higher. If Alicia's balance at the end of her last billing cycle was $470, what is her minimum monthly payment?

Question

Teeny

Mathematics

9 July, 18:47

The minimum monthly payment for Alicia's credit card is 2% of her balance or $10, whichever is higher. If Alicia's balance at the end of her last billing cycle was $470, what is her minimum monthly payment?

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Answers (1)

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Kelsie Carpenter · Answer 1

The minimum monthly payment for Alicia's credit card is 2% of her balance or $10, whichever is higher.

Now, Alicia's balance at the end of her last billingcycle was $470, Let's solve for her minimum monthly payment:

=> 470 * 0.02 = 9.4 dollars.

=> 470 + 9.4 = 479.4 dollars.