Jerome Would Be Considered a

question 65

Multiple Choice

Jerome would be considered a

• A)credit user.
• B)convenience user.
• C)combination credit and convenience user.
• D)T&E card user.

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Definitions:

Effective Interest Rate

The true rate of simple interest.

Contract Interest Rate

The agreed-upon rate of interest that will be charged or paid on a financial contract, such as a loan or bond.

Issued at Discount

When a bond or other security is sold for less than its face value.

Semiannually

Referring to an event or action that takes place twice every year, often at six-month intervals.