Question

Which of the following tells you how much your credit card interest will be if you only pay the minimum balance each month?

A. Annual Membership Fee
B. Late Fee
C. Balance Transfer Fee
D. Annual Percentage Rate

Answer 1

A) The Annual Percentage Rate tells you how much your credit card interest will be if you pay only the minimum balance.
The APR is the percentage rate that is applied to your balance to determine how much interest you pay. If you pay only the minimum amount, you can use your APR to determine how much interest you will need to pay.