SOLUTION: Find the minimum payment on an unpaid balance of $961.61. Assume that the minimum payment on a credit card is the greater of $34 or 2% of the unpaid balance.
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-> SOLUTION: Find the minimum payment on an unpaid balance of $961.61. Assume that the minimum payment on a credit card is the greater of $34 or 2% of the unpaid balance.
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Question 1182567: Find the minimum payment on an unpaid balance of $961.61. Assume that the minimum payment on a credit card is the greater of $34 or 2% of the unpaid balance.
Round to the nearest cent as needed. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! The minimum payment is $34 or 2% of $961.61=$19.23
Since the larger is used, the minimum payment will be $34.
