marilyn has two credit cards, d and e. card d has a balance of $691.64, and card e has a balance of…

marilyn has two credit cards, d and e. card d has a balance of $691.64, and card e has a balance of $1,014.22. the minimum monthly payment on card d is 3.57% of the total balance, and the minimum monthly payment on card e is 2.51% of the total balance. how much greater is the minimum payment on card e than on card d?\na. $18.85\nb. $8.10\nc. $11.24\nd. $0.77\nplease select the best answer from the choices provided

marilyn has two credit cards, d and e. card d has a balance of $691.64, and card e has a balance of $1,014.22. the minimum monthly payment on card d is 3.57% of the total balance, and the minimum monthly payment on card e is 2.51% of the total balance. how much greater is the minimum payment on card e than on card d?\na. $18.85\nb. $8.10\nc. $11.24\nd. $0.77\nplease select the best answer from the choices provided

Answer

Explanation:

Step1: Calculate minimum payment on Card D

$691.64\times 0.0357 = 24.691548$

Step2: Calculate minimum payment on Card E

$1014.22\times 0.0251=25.456922$

Step3: Find the difference

$25.456922 - 24.691548=0.765374\approx0.77$

Answer:

D. $$0.77$