Question $2.(20$pts$)$

Case Study: Credit Cards

Last June $16,$ Mr$.$ Smith bought a vacation package for his famaly for $$10,000.$ He paid for the packuge with his credit card. His cand billiag period runs from the $16$ th of each mooth to the $1$Sth of the following mocth. The puckuge is the only parchase he mame with his card during the period Juar $16-$Jaly $15.$ On July $16$ an account statement whe isetsed by the credit card company myposting that he pay $$10,000$ by August $6.$ Mr$.$ Smath decided to pay $$9,99$ on Angast $6,$ opting to repay the remaining $5001$ whin the text ntatemeth. Heder mot mas any parchas during the billing cycle July $16-$ Auguat $15.$ On August $16$ as bev statement whe beowi. The statement showed a balance of $336\mathrm{.}88.$ Mr$.$ Stuith inmorlimely callod his crodit cart coenpany to declare whe no mistabr. Irowe to Mr$.$ Nexith that the coapany's neertion is coerrect.