Ask Question
3 September, 00:16

The minimum monthly payment for Fern's credit card is 2.5% of her balance or $40, whichever is higher. If Fern's balance at the end of her last billing cycle was $1950, what is her minimum monthly payment?

+4
Answers (1)
  1. 3 September, 02:56
    0
    We need to calculate which is higher ... 2.5% OR $40.

    1950 *.025 = $48.75

    Thus, 2.5% is higher than $40. So, if allowed, she would opt for the $40 payment.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The minimum monthly payment for Fern's credit card is 2.5% of her balance or $40, whichever is higher. If Fern's balance at the end of her ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers