Solve the problem.
-Cordelia has a credit card balance of $\$ 5261.18$ with an annual percentage rate of $13.6 \%$. Her card requires a minimum payment of $2 \%$ of the total balance. If she pays only the minimum payment, what amount of the minimum payment is applied to the principal? (Assume that interest is compounded monthly.)
A) $\$ 105.22$
B) $\$ 13.60$
C) $\$ 45.59$
D) $\$ 59.63$

Question

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The Answer of Solve the problem.
-Cordelia has a credit card balance of $\$ 5261.18$ with an annual percentage rate of $13.6 \%$. Her card requires a minimum payment of $2 \%$ of the total balance. If she pays only the minimum payment, what amount of the minimum payment is applied to the principal? (Assume that interest is compounded monthly.)
A) $\$ 105.22$
B) $\$ 13.60$
C) $\$ 45.59$
D) $\$ 59.63$

Solve the Problem $5261.18\$ 5261.18$5261.18 With an Annual Percentage Rate Of 13.6%13.6 \%13.6%

Solve the Problem $\$ 5261.18$ With an Annual Percentage Rate Of $13.6 \%$