Bana received Scotiabank American Express (Amex) gold card, where the interest is charged at 18.9% per annum. The bill is issued on 16th of every month and is due on 4th of next month. She used her Amex card for the following transactions in the month of July: The minimum payment due is greater of $10 or 2% of the outstanding balance. She intends to pay the balance in full on the 29th of July. How much must she pay?
A) $667.32
B) $792.11
C) $124.79
D) $793.73

Question

Bana received Scotiabank American Express (Amex) gold card, where the interest is charged at 18.9% per annum. The bill is issued on 16th of every month and is due on 4th of next month. She used her Amex card for the following transactions in the month of July:  The minimum payment due is greater of $10 or 2% of the outstanding balance. She intends to pay the balance in full on the 29th of July. How much must she pay?
A) $667.32 
B) $792.11 
C) $124.79 
D) $793.73

Quizplus · Accepted Answer

The Answer of Bana received Scotiabank American Express (Amex) gold card, where the interest is charged at 18.9% per annum. The bill is issued on 16th of every month and is due on 4th of next month. She used her Amex card for the following transactions in the month of July:  The minimum payment due is greater of $10 or 2% of the outstanding balance. She intends to pay the balance in full on the 29th of July. How much must she pay?
A) $667.32 
B) $792.11 
C) $124.79 
D) $793.73

Bana Received Scotiabank American Express (Amex) Gold Card, Where the Interest