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How is the finance charge calculated for credit cards? A. APR times Remaining Balance B. APR times Average Daily Balance C. MPR times Remaining Balance D. MPR times Average Daily Balance
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12 votes
How is the finance charge calculated for credit cards?

A. APR times Remaining Balance

B. APR times Average Daily Balance

C. MPR times Remaining Balance

D. MPR times Average Daily Balance

User Engincan Veske
by
7.5k points

2 Answers

8 votes

Answer:

Answer is B I believe

Explanation:

A common way of calculating a finance charge on a credit card is to multiply the average daily balance by the annual percentage rate (APR).

User Dariush Jafari
by
7.6k points
5 votes

Answer:

A. APR times Remaining Balance

User Thakhani Tharage
by
8.9k points
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