Bradley Currently Has a Visa Card from His Bank with the Following

question 41

Multiple Choice

Bradley currently has a Visa card from his bank with the following terms: 21 percent on purchases, 25 percent on cash advances with a 3 percent cash-advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Lately, he has been having a hard time paying more than the minimum payment of 3 percent of his balance.
-What is the current APY on this credit card?

• A) 21 percent
• B) 22.99 percent
• C) 23.14 percent
• D) 24 percent

---

Definitions:

Policymaking Process

The method by which governments create policies to address public issues, involving problem identification, policy formulation, adoption, implementation, and evaluation.

Affordable Care Act

A health care reform law enacted in March 2010, aimed at expanding insurance coverage, controlling health care costs, and improving the health care delivery system in the United States.

Health-Care Insurance

A policy that covers the whole or part of the risk of a person incurring medical expenses, spreading the risk over numerous individuals.

Policymaking Process

The method by which governments and other authorities create and implement laws and regulations.