BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$1, 522.70
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$15.22
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$152.27
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$1, 000, 000
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Detailed explanation-1: -Credit cards charge interest if you don’t pay off your balance in full each billing cycle. The amount of interest you’re charged is listed on your cardholder agreement as your annual percentage rate (APR).
Detailed explanation-2: -If you don’t pay your credit card bill on time and in full each month, whatever’s left (the unpaid balance) gets carried over to the next billing cycle. If you carry a balance, you’ll most likely be charged interest on the portion of the balance you didn’t pay based on the annual percentage rate, or APR, of your card.
Detailed explanation-3: -When Do You Pay Interest? If your starting credit card balance is $0, interest is typically not charged on your purchases until the day after your bill is due and only if on any remaining card balance. If you pay your entire credit card bill each month, you will not be charged interest.