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The minimum monthly payment for Cody's credit card is 2% of his balance or $20, whichever is higher. If Cody's balance at the end of his last billing cycle was $870, what is his minimum monthly payment?

Respuesta :

2 % of 870 = $ 17.4

$ 17.4 is less than $ 20

Since the higher amount is deducted, his monthly charges would be $20. 

Hope this helps! :D

Answer:

$20

Step-by-step explanation:

It is clear that deduction will be either [tex]2\\[/tex] percent or $20 , whichever is greater

Lets evaluate 2 percent of the last bill of [tex]870\\[/tex]

[tex]\frac{2}{100} * 870 \\= 17.4\\[/tex]

Thus, $17.4 is less than $ 20

Thus, $20 will be the minimum monthly payment