Regina pays her credit card balance in full each month. Last month her average daily balance was $345 and the APR is 11.2%. The finance charge on her current month's statement is $13.22.

A. True

B. False

Question

Leland

Business

1 July, 15:57

Regina pays her credit card balance in full each month. Last month her average daily balance was $345 and the APR is 11.2%. The finance charge on her current month's statement is $13.22.

A. True

B. False

+2

Answers (1)

Know the Answer?

Rachel Faulkner · Answer 1

Answer: The correct answer is False.

Explanation: When a customer pays off their credit card balance in full each month there is not a finance charge, which makes this answer false. Interest in not charged to a credit card account until the prior month's balance is not paid in full.

Regina pays her credit card balance in full each month. Last month her average daily balance was $345 and the APR is 11.2%. The finance charge on her current month's statement is $13.22.A. TrueB. False

Regina pays her credit card balance in full each month. Last month her average daily balance was $345 and the APR is 11.2%. The finance charge on her current month's statement is $13.22.

A. True

B. False