Register
If Vince charged $390 on his credit card with 22% APR and he paid his balance in full within the grace period, how much was he required to pay
35.5k views
1 vote
If Vince charged $390 on his credit card with 22% APR and he paid his balance in full within the grace period, how much was he required to pay

User Anderson Matos
by
4.4k points

1 Answer

3 votes

Answer:

$0 in case the credit doesn't charge a monthly fee. Or just the monthly fee.

Step-by-step explanation:

The grace period is a time period where the customer can pay any expenses and the bank will not charge any interest. In other words, if you pay the full balance before the grace period is over, the bank will not change you any interests.

User TrevorBrooks
by
4.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.2m questions

6.8m answers

Other Questions

Decker Tires' free cash flow was just FCF0 = $1.32. Analysts expect the company's free cash flow to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in Year 3 and thereafter. The WACC
Misk Co. purchased the following securities during 20X7 to be classified as held-to-maturity securities, trading securities, or available-for-sale securities: I. Debt securities bought and held for the
Risa has to work long hours and sometimes weekends, losing out on family time. Risa doesn't find her long hours overly stressful, but rather she sees it as her contribution to maintaining her family's
Which of the following should be considered last when searching for financing? Family members Banks Commercial finance companies Credit cards I'm guessing it's C but idk
Explain the similarities and differences between how both producers and consumer use money
Link Copied!