Answer:
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
= [tex]\frac{25}{100}[/tex] × 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.
