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What is the minimum monthly payment for may

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Reference no: EM133010510

Question - A machine shop has a credit card that offers rebates on purchases. At the end of May, the company had a credit card bill of $18,459.47. The company must make a minimum payment that is the greater of $500 or 4.5% of the credit card bill.

What is 4.5% of the credit card bill?

Is this amount greater than or less than $500?

What is the minimum monthly payment for May?

Reference no: EM133010510

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