A credit card charges an annual fee of \$220 from the second year onwards. It gives 1.6% cashback on a fixed monthly spending of \$1500. Ignoring all other charges, what is the net amount the cardholder pays in the second year after deducting cashback from the annual fee?

EM-2353

Percentages

E Math · Secondary 4 · Medium · Percentages

A credit card charges an annual fee of \$220 from the second year onwards. It gives 1.6% cashback on a fixed monthly spending of \500. Ignoring all other charges, what is the net amount the cardholder pays in the second year after deducting cashback from the annual fee?

\$68 paid
\$68 saved
\$220 paid
\$288 saved

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