Answer:
$35.94.
Step-by-step explanation:
We have been given that Darryl’s credit card has a minimum monthly payment of 2.51% of the card’s balance. Darryl currently owes $1,431.72.
To find the minimum payment we will have to calculate 2.51% of $1431.72.
[tex]\text{Minimum monthly payment}=\frac{2.51}{100}\times\$1,431.72[/tex]
[tex]\text{Minimum monthly payment}=0.0251\times\$1,431.72[/tex]
[tex]\text{Minimum monthly payment}=\$35.936172[/tex]
Upon rounding our answer to nearest cent we will get,
[tex]\text{Minimum monthly payment}\approx \$35.94[/tex]
Therefore, the minimum monthly payment to the nearest cent will be approximately $35.94.
