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

QUESTION POSTED AT 01/06/2020 - 04:39 PM

Answered by admin AT 01/06/2020 - 04:39 PM

Hi there

2%=0.02

2% of 870

0.02×870=17.4
whichever is higher
20 is higher than 2%

So the minimum monthly payment is
20

Good luck!
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