Question: How does the interest rate affect your credit payments What
How does the interest rate affect your credit payments? What is meant by simple interest? What is the annual percentage rate (APR), and when is it used?
Relevant QuestionsList some items that appear on the credit card statement. What accounts for the difference between your previous balance and your new balance? What are the three methods used by financial institutions to calculate finance charges on outstanding credit card balances? Briefly describe how interest is computed under each method. Discuss how credit cards offer incentives to use the cards. How else might credit card companies reward cardholders with excellent credit ratings? Margie has had a tough month. First, she had dental work that cost $ 700. Next, she had her car transmission rebuilt, which cost $ 1,400. She put both of these unexpected expenses on her credit card. If she does not pay her ...How would you address Brad’s reluctance to pay off his credit card balance? Show him what he could earn in five years if he paid it off and invested the interest saved at 6%.
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