most credit cards require that you pay a minimum monthly payment of 2% of the balance. Based upon a balance of $5,270.00 what would the minimum payment be?

P = 0.02 * 5270.00

105.4 To calculate the minimum monthly payment on a credit card with a balance of $5,270.00, you need to multiply the balance by 2% (or 0.02).

Mathematically, you can calculate the minimum payment as follows:

Minimum Payment = Balance × 0.02

Plugging in the given balance:

Minimum Payment = $5,270.00 × 0.02

Simplifying the calculation:

Minimum Payment = $105.40

Therefore, the minimum monthly payment on a credit card with a balance of $5,270.00 would be $105.40.