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 c ard 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?
1 answer:
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
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