Due to Poor Spending Habits, Ricky Has Accumulated $10,000 in Credit

question 126

Multiple Choice

Due to poor spending habits, Ricky has accumulated $10,000 in credit card debt. He has missed several payments and now the annual interest rate on the card is 18.95 percent! If he pays $175 per month on the card, in total, how much interest expense does Ricky pay to the credit card company?

• A) $15,987.50
• B) $17,008.52
• C) $12,905.13
• D) $8,714.62

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Definitions:

Intimidate Witnesses

The act of frightening those who are to testify in court in order to influence their testimony.

Grand Jury Subpoena

A Grand Jury Subpoena is a legal document ordering someone to testify or provide evidence before a grand jury, which is involved in reviewing evidence to determine if charges should be brought in a case.

Duty of Confidentiality

A legal or ethical obligation to maintain the privacy of information and not disclose it to third parties without consent or proper authorization.

Lawyer-Client Privilege

A legal privilege that protects communications between attorneys and their clients from being disclosed without the permission of the client.