Question

Latoya Patterson owes $450 on her credit card. She must pay 2.3% monthly interest and the payment is $35 or 10% of what she owes, whichever is greater. Prepare a table showing 4 months of statements. Use the table to determine much total interest will be paid in four months.
A. $35.47
B. $41.40
C. $45.00
D. $46.04

Answer 1

C. $45.00      will be paid in four months