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

question 50

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 APY on Bradley's default,or penalty,rate?

• A) 33 percent
• B) 33.50 percent
• C) 38.48 percent
• D) 42.96 percent

---

Definitions:

Kitty Genovese

A New York City woman whose 1964 murder prompted research into the bystander effect due to reports that witnesses failed to help her.

Brutal Assault

An extremely violent and aggressive attack on someone, typically resulting in severe physical harm.

Apartment Complex

A large building or group of buildings containing multiple individual apartment units, typically owned by a single entity and rented to tenants.

Police Reports

Official documents filed by police officers that detail the events of an incident, crime, or accident.