Zach's first minimum payment will be the greater of $10 or 2.5% of the balance. Given a balance of $910, 2.5% of this balance is $22.75. Since $22.75 is greater than $10, Zach's first minimum payment will be $22.75.
To calculate the 2.5% payment for any balance BBB, use the formula:
0.025×B0.025\times B0.025×B
For Zach's case with a $910 balance:
0.025×910=22.750.025\times 910=22.750.025×910=22.75
Therefore, Zach will pay $22.75 as his first minimum payment.
