214k views
5 votes
What is the minimum amount due on the following credit card statement?

a. $1,797.77
b. $10
c. $202.23
d. $15

User Ashildr
by
8.5k points

1 Answer

3 votes

Final answer:

The minimum amount due on a credit card statement typically follows the credit card issuer's policy, which, according to the information provided, would be $60 as that is the base minimum monthly payment for a $2,000 credit card debt.

Step-by-step explanation:

To determine the minimum amount due on a credit card statement without the specific details of that statement, we'll need to rely on general practices and the provided information about minimum payment policies.

From the information provided, we know that if a credit card requires minimum payments of $60 a month, and a person has a credit card debt of $2,000, then their minimum payment would indeed be $60 because this is the amount the credit card company has set as the minimum monthly payment.

Now, if the debtor is late, the company charges an additional $10 late fee and $5 a day each day that payment remains unpaid. However, since these fees are tied to late payments, they would not be included in the calculation of the regular minimum payment due on the statement, unless the statement includes past unpaid fees. Without the context of whether the statement includes such fees, we can assume the minimum monthly payment is likely $60.

User Lnyng
by
7.9k points