Oakley charged $795 to his credit card last month. What is the first minimum payment he must make? (2 points)$25.00
$31.80
$79.50
$94.61

$31.80

Step-by-step explanation:

The complete question is

Use the details of Oakley's new credit card to answer the question that follows. APR 11.9% compounded monthly Grace Period 28 days Minimum Payment 4% of the remaining balance or $25, whichever is higher Oakley charged $795 to his credit card last month. What is the first minimum payment he must make?

step 1

Find out the 4% of the balance of $795

so

This amount is higher than $25,

therefore

The first minimum payment he must make is $31.80

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explanation: