Assume You Have a Balance of $3200 on Your Credit

question 211

Multiple Choice

Assume you have a balance of $3200 on your credit card that you want to pay off. Calculate your monthly payment andtotal payment under the given conditions. Assume you make no additional charges to the card.
-The credit card APR is 19% and you want to pay off the balance in 1 year.

• A)$252.52; $3030.19
• B)$443.92; $5327.04
• C)$294.90; $3538.81
• D)$354.38; $4252.60

---

Definitions:

Negligence

Failing to exercise the degree of care considered reasonable for an individual in identical situations.

Qualified Privilege

A legal immunity granted in specific circumstances, protecting individuals from liability for defamation when making statements in the performance of a duty or interest.

Libel

The written or more permanent form of a defamatory statement.

Defamation

The act of making false statements about someone, damaging their reputation.