The minimum monthly payment for leland's credit card is 2.5% of his balance or $30, which ever is higher. if leland's balance at the end of his last billing cycle was $950, what is his minimum monthly payment?
a. $53.75
b. $30.00
c. $6.25
d.$23.75

Option B. $30.00

Step-by-step explanation:

The minimum monthly payment for Leland's credit card is 2.5% of his balance or $30, whichever  is higher.

Leland's balance at the end of his last billing cycle was = $950

Now first we will calculate 2.5% of $950

= × 950

= 0.25 × 950 = $23.75 < $30

$30 is higher than 2.5% of his last billing, So his minimum monthly payment would be $30.

12*c

step-by-step explanation: