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14 August, 12:36

Which section of a Schumer Box discusses what happens when a payment is late?

Annual Percentage Rate (APR) for Purchases

How to Avoid Paying Interest on Purchases

Penalty APR and When It Applies

Variable Rate and Balance Computation

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  1. 14 August, 12:57
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    Penalty APR and When It Applies

    Explanation:

    A Schumer Box is a table that explains the costs of a credit card in the United States. It has sections like:

    -Annual Percentage Rate (APR) for Purchases: It indicates the annual rate that you will be charged when you use the credit card to make a purchase.

    -How to Avoid Paying Interest on Purchases: It indicates the specific situation in which you would be exempted from paying interest on a purchase.

    -Penalty APR and When It Applies: It indicates the specific situations in which you would have to pay a higher interest rate as an infraction for things like making a late payment.

    -Variable Rate and Balance Computation: It indicates how the interest rate can change and how the finance charge is calculated.

    According to this, the answer is that the section of a Schumer Box that discusses what happens when a payment is late is Penalty APR and When It Applies.
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