Solve the Problem. -Erica Tomlinsonʹs Credit Card Company Determines Her Minimum Monthly Payment

Multiple Choice

Solve the problem.
-Erica Tomlinsonʹs credit card company determines her minimum monthly payment by adding all New interest to 2% of the outstanding principal. The credit card company charges an interest rate Of 0.04696% per day. On October 15, Erica uses her credit card to purchase a custom set of wheels And tires for her car for $1500. She makes no other purchases during October. Assuming Erica Had no new interest, determine Ericaʹs minimum payment due on November 1, her billing date.

A) $42
B) $30
C) $31
D) $41