Doug’s minimum payment is 1.5% of his new balance. His new balance is $616.00, what is his minimum payment? A. $4.11 B. $9.24 C. $92.40 D. $41.07

Question

asked Nov 23, 2019 25.7k views

2 Answers

Piercy · Answer 1 · 2019-11-28T06:28:54+0000

Answer:

Option B
$\$9.24$

Explanation:

Let

x-------> the minimum payment

we know that

To find the minimum payment multiply
$1.5\%$ in decimal form by the new balance

$1.5\%=(1.5)/(100)=0.015$

so

$x=0.015(616.00)=\$9.24$