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Elodia [21]
2 years ago
4

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?
A.$48.75
B.$40.00
C.$8.75
D.$88.75
Mathematics
2 answers:
yawa3891 [41]2 years ago
8 0
1950 * .025
48.75
A
When you do these problems, you must make sure you put this percent into decimal form before punching it into your calculator. 

mote1985 [20]2 years ago
4 0

Answer:

A. $48.75.

Step-by-step explanation:

We have been given that the minimum monthly payment for Fern's credit card is 2.5% of her balance or $40, whichever is higher.

First of all let us find 2.5% of $1950.

\text{2.5\% of \$1950}=\frac{2.5}{100}\times \$1950

\text{2.5\% of \$1950}=0.025\times \$1950

\text{2.5\% of \$1950}=\$48.75

Since the minimum monthly payment will be the higher amount among 2.5% of the balance or $40. As $48.75 is higher than $40, therefore, Fern's minimum monthly payment will be $48.75 and option A is the correct choice.  

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