Solve the Problem

question 66

Multiple Choice

Solve the problem. Assume that the minimum payment on a credit card is the greater of $27 or 3% of the unpaid balance.
-Find the minimum payment on an unpaid balance of $1584.40.

• A) $52.53
• B) $47.53
• C) $27.00
• D) $475.32

---

Definitions:

Enterprising Merchant

Refers to a businessperson, particularly during historical periods, who takes financial risks to profit from trading goods, often across great distances.

Mexican Law

The legal system of Mexico, which is primarily based on Napoleonic civil law with influences from Spanish civil law and indigenous law.

California Missions

A chain of religious and military outposts established by Spanish Franciscans in the 18th century to spread Christianity among local Native Americans in what is now California.

Polygamy

The practice of marrying multiple spouses simultaneously, recognized in some cultures and religions but illegal in many countries.