Question

Trevor's new mastercard credit card has an introductory 6 month 0% APR. His average daily balance for the first month was $2,350. What is his finance charge for the first month

Answer 1

$0

Step-by-step explanation:

Since Trevor's new credit card is offered with an introductory promotion of 0% APR for the first 6 months, that means that the bank or credit card company will not charge interest rates for the first 6 months. Since the interest rate is 0%, the finance charge for the first month is also 0, but it doesn't mean that Trevor will not pay anything though.