AMEX Interest Charge calculation

[mgarfin]

Can anyone help explain the calculation?

If the balance due was $136,101.77 and Paid $120,000.00 = Unpaid $16,101.77
Why is interest charged on $39,514.11

[AsherO]

Can anyone help explain the calculation?

If the balance due was $136,101.77 and Paid $120,000.00 = Unpaid $16,101.77
Why is interest charged on $39,514.11

The previous statement was paid in full and on time?

[hvaces42]

Average daily balance.

[mgarfin]

The previous statement was paid in full and on time?

Yes

[CountValentine]

Interest is charged on a credit card when you don't pay the full balance from the previous billing cycle. Interest is calculated on a daily basis, based on the annual percentage rate (APR) divided by 365. This daily rate is applied to the unpaid balance and added to your bill as a finance charge. Interest will continue to accrue until you pay off the balance in full.

[theyankel]

Interest is charged on a credit card when you don't pay the full balance from the previous billing cycle. Interest is calculated on a daily basis, based on the annual percentage rate (APR) divided by 365. This daily rate is applied to the unpaid balance and added to your bill as a finance charge. Interest will continue to accrue until you pay off the balance in full.

Average daily balance.