Question

Consumer math help

1. When you pay a bill in full, you are
a. paying it off
b. defaulting
c. maximizing profit
d. zeroing

2. APR stands for
a. annual partial
b. amortized percentage rate
c. annual percentage rate
d. amortized partial rate

3. when calculating interest accrued, you should
a. multiply the principal by APR
b. multiply the principal by the APR and number of months
c. multiply the principal by the APR and number of months, then divide by the total number of the months in the year
d. multiply the principal by the APR and the number of months in the year, then divide by the,

Answer 1

A, C, C

Explanation:

Some other dude answered it. I just simplified his answer.

Answer 2

1. When you are paying a bill in full, said bill is completely paid off. In other words, the bill amount has been fulfilled by the consumer in a sort of payment. The answer is a. consumer is paying it off. 2. APR is a rate that is used frequently when applying and using a credit card. It stands for c. annual percentage rate or the percentage that will be charged when a credit card is not paid in full by the due date each month. 3. When calculating interest accrued you should multiply the principal by the APR & number of months, then divide the number of months in a year (12). This will be the interest that the consumer has gained and must pay off to the lender.