The outstanding balance of a credit card bill is $250. According to the credit card company's policy, an interest fee of 2% on the card balance will be applied each month the bill is not paid.
Assuming that the bill is not paid, what will the outstanding balance be after 6 months?
A) After 6 months, the outstanding balance on the credit card will be approximately $276.02. B) After 6 months, the outstanding balance on the credit card will be approximately $622.08. C) After 6 months, the outstanding balance on the credit card will be approximately $281.54. D)After 6 months, the outstanding balance on the credit card will be approximately $255.10.
