Mike Has a MasterCard with an Annual Fee of $25,18

question 69

Multiple Choice

Mike has a MasterCard with an annual fee of $25,18% interest,and a $1,000 credit limit.He always pays the total outstanding balance monthly.His most recent monthly statement lists last month's payment,new charges this month totaling $1,500,and a $30 fee.That fee is most likely the result of

• A) interest charges.
• B) his annual fee.
• C) an over-the-limit fee.
• D) a late payment.
• E) transaction fees on purchases.

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Definitions:

Recycling

Reprocessing of used materials for reuse.

Used Materials

Previously owned or utilized materials that are often recycled or repurposed for new uses.

Reused

The action of using something again, whether in its original form or with minimal alteration, to reduce waste and save resources.

FDA (Food and Drug Administration)

A federal agency responsible for protecting public health by regulating food safety, pharmaceuticals, medical devices, cosmetics, and other products.