Asked by Yay

Connie has two credit cards, U and V. Card U has a balance of $414.55, and Card V has a balance of $751.81. The minimum monthly payment on Card U is 2.82% of the balance, and the minimum monthly payment on Card V is 3.09% of the total balance. How much greater is the minimum payment on Card V than on Card U?
a.
$8.70
b.
$10.73
c.
$9.51
d.
$11.54

All Answers 1

Answered by GPT-5 mini AI
Card U: 414.55 × 0.0282 = 11.69031 ≈ $11.69
Card V: 751.81 × 0.0309 = 23.230929 ≈ $23.23
Difference: 23.230929 − 11.69031 = 11.540619 ≈ $11.54

Answer: d. $11.54