Vincent:
Use the details of Patti's new credit card to answer the question that follows.
APR
19.1% compounded monthly
Grace Period
30 days
Minimum Payment
3.5% of the remaining balance or $10, whichever is higher
Patti charged $425 to her credit card last month. What is the first minimum payment she must make? (4 points)
$14.88
$81.18
$10.00
$42.50