Question

Con has two credit cardsU and V. card U has a balance of 414.55 card V has a balance of $751.81 the minimum monthly payment on card U is 2.82% of the balance and a minimum monthly payment on card V 3.09% of the total balance. how much greater is the minimum payment on card V than card U?

Answer 1

Answer:

$11.54

Step-by-step explanation:

The computation of the greater amount on card V than card U by considering the minimum payment is shown below:

But before that first we have to compute it separately and then take a difference to reach a solution

On Credit card U

= Balance × given percentage

= $414.55 × 2.82%

= $11.69

On Credit card V

= Balance × given percentage

= $751.81 × 3.09%

= $23.23

So, the difference in amount is

= $23.23 - $11.69

= $11.54