Marilyn has two credit cards, D and E. Card D has a balance of $691.64, and Card E has a balance of $1,014.22. The minimum monthly payment on Card D is 3.57% of the total balance, and the minimum monthly payment on Card E is 2.51% of the total balance. How much greater is the minimum payment on Card E than on Card D? a. $18.85 b. $8.10 c. $11.24 d. $0.77

Question

Mathematics

Wilber

17 May, 14:48

Marilyn has two credit cards, D and E. Card D has a balance of $691.64, and Card E has a balance of $1,014.22. The minimum monthly payment on Card D is 3.57% of the total balance, and the minimum monthly payment on Card E is 2.51% of the total balance. How much greater is the minimum payment on Card E than on Card D? a. $18.85 b. $8.10 c. $11.24 d. $0.77

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Answers (1)

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Chief · Answer 1

1) let's count the payment that you would do on the card E

2.51% of $1,014.22

percentage can be exchanged to numbers like this:

x%=x*0.01, so 2.51 percent is 0.0251:

So now we multiply:

0.0251*1014.22=25.46

2) now let's count Card D payment:

3.57%*691.64 = 0.0357*691.64 = 24.69

and the difference is:

25.46-24.69=0.77

So the answer is D) !