Find the minimum payment on an unpaid balance of 671.96$. Assume that the minimum payment on a credit card is the greater of 23$ or 2% of the unpaid balance.
To find the minimum payment on the unpaid balance of $671.96, we need to take 2% of the balance and compare it to $23.
2% of $671.96 = (2/100) * $671.96 = $13.4392
The minimum payment is the greater of $13.4392 or $23, so the minimum payment is $23.
To find the minimum payment on an unpaid balance, we need to compare two options: $23 and 2% of the unpaid balance. The greater of the two options will be the minimum payment.
Option 1: $23
Option 2: 2% of the unpaid balance
2% of $671.96 = 0.02 x $671.96 = $13.44
Comparing the two options, the greater amount is $23.
Therefore, the minimum payment on an unpaid balance of $671.96 would be $23.
To find the minimum payment on an unpaid balance of $671.96, we can start by calculating 2% of the unpaid balance.
First, convert 2% to a decimal by dividing it by 100: 2/100 = 0.02
Next, multiply the unpaid balance ($671.96) by 0.02 to get 2% of the unpaid balance: $671.96 x 0.02 = $13.44
Now we need to compare this amount to the minimum payment limit of $23.
Since $23 is greater than $13.44, the minimum payment would be $23.
Therefore, the minimum payment on an unpaid balance of $671.96 would be $23.