Regina pays her credit card balance in full each month. Last month her average daily balance was $345 and the APR is 11.2%. The

Question

miskamm [114]

2 years ago

7

Regina pays her credit card balance in full each month. Last month her average daily balance was $345 and the APR is 11.2%. The

finance charge on her current month’s statement is $13.22.
A. True

B. False

Business

1 answer:

blondinia [14] · Answer 1 · 2023-07-05T16:11:05+03:00

Answer: The correct answer is False.

Explanation: When a customer pays off their credit card balance in full each month there is not a finance charge, which makes this answer false. Interest in not charged to a credit card account until the prior month’s balance is not paid in full.