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. $45.59
B. $59.63
C. $13.60
D. $105.22
Answer: A
Mathematics
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What will be an ideal response?
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