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The minimum monthly payment for adeline's credit card is 2.5% of her balance or $30, whichever is higher. if adeline's balance at the end of her last billing cycle was $1550, what is her minimum monthly payment?

Respuesta :

$1550x.025= 38.75 
Answer: 38.75

Answer:

Minimum monthly payment will be $[tex]38.75\\[/tex]

Step-by-step explanation:

Minimum monthly payment at the rate of [tex]2.5\\[/tex] %

[tex]= \frac{2.5}{100} * 1550\\= 38.75\\[/tex]

Out of $[tex]30[/tex] or $[tex]38.75\\[/tex], $[tex]38.75\\[/tex] is large, thus it will be the minimum monthly payment.