User Excel formula for the minimum payment is 3% of the statement balance (the balance at the end of the monthly billing period) or $10, whichever is greater, unless the balance at the end of the billing period is less than $10, in which case the minimum payment is the full statement balance. 

Answer rating: 100% (QA)

To calculate the minimum payment for a credit card balance in Excel you can use the PMT function ... View the full answer