What Will Happen If You Make Only the Minimum Payment

question 14

Multiple Choice

What will happen if you make only the minimum payment on your credit card bill each month?

• A) It will shorten your repayment time.
• B) The bank will cancel your credit card.
• C) Your interest rate will go up each month.
• D) You will be charged a finance fee each month.

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Definitions:

Right-Hand Side

The section or part of an equation that appears to the right of the equals sign (=).

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Steel sheets shaped like a 'C' in cross-section, commonly used in construction and manufacturing for structural support.

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Optimal Number

A value that represents the most efficient, effective, or functional level or amount in a given context.