Question

in this section, youll investigate different types of credit, how each credit works, and their advantages and disadvantages. youre still thinking about getting a car loan, and youre 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? $22.50 $60 $176 $800

Explanation:

Step1: Calculate 3% of $750

$750\times0.03$

Step2: Perform the multiplication

$750\times0.03 = 22.5$

Answer:

A. $22.50