Question

A major credit card company requires monthly payments equal to or greater than 8% of the total balance.A consumer has a credit card balance of $320. Write an inequality that represents acceptable payment amounts.

Answer 1

320 x 0.08 = X

In the case, a payment equal to or greater than $ 25.60 would be considered acceptable by the company.

Explanation:

Given that a major credit card company requires monthly payments equal to or greater than 8% of the total balance, and a consumer has a credit card balance of $ 320, the following calculations must be performed to determine an inequality that represents acceptable payment amounts:

320 x 0.08 = X

25.6 = X

Thus, in the case, a payment equal to or greater than $ 25.60 would be considered acceptable by the company.