Final answer:
Jonathan, with an excellent credit rating, can expect to receive the most favorable introductory APR offered, which is likely to be the lowest figure among the options. Therefore, the expected introductory APR for him would be 8.99%.
Step-by-step explanation:
The student is asking about the introductory annual percentage rate (APR) for purchases on a credit card, which varies based on creditworthiness. Since Jonathan has an excellent credit rating, he might expect to receive the most favorable introductory APR offered. This would likely be the lowest of the provided options, as better credit typically qualifies one for better interest rates.
Considering the information provided and the market condition where average credit card borrowing is around 15% per annum, we can infer that the lowest rate mentioned in the options is the best Jonathan can expect. Credit cards are a significant part of the financial habits of Americans, with millions carrying balances that accrue interest, resulting in billions of dollars paid annually in interest and fees.
Therefore, for Jonathan, with an excellent credit rating, the introductory APR he might expect to receive on the card is 8.99%.