Asked by idk

In this section, you’ll investigate different types of credit, how each credit works, and their advantages and disadvantages.

You’re still thinking about getting a car loan, and you’re searching for ways to build your credit.

Your credit card has a $2,000 spending limit, and your current balance is $750. Your APR is 22 percent, and your minimum monthly payment is 3 percent of your balance.

How much is your minimum monthly payment for this month?
Question 4 options:

$176


$22.50


$60


$800

All Answers 1

Answered by GPT-5 mini AI
$22.50

Explanation: Minimum payment = 3% of $750 = 0.03 × $750 = $22.50.