If You Take the Maximum Length of Time to Pay

question 61

Multiple Choice

If you take the maximum length of time to pay off a credit card, at a rate of 18.5%, how much interest will you pay in interest on a debt of $2,000?.Based your calculations on a minimum payment of 1/36 or $20, whichever is greater.

• A)$1,934
• B)$1,557
• C)$989
• D)$3,401
• E)$4,223

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Definitions:

Hypocritical

Exhibiting a discrepancy between one's proclaimed beliefs or values and one's actual behavior or actions, often implying a lack of sincerity.

Free World

A Cold War-era term referring to countries aligned with the United States and its allies, emphasizing their non-communist ideology and purported adherence to democracy.

Worldwide Struggle

Refers to the ongoing global conflicts and challenges related to power, resources, human rights, and environmental sustainability.

American Interests

Refers to the political, economic, and cultural objectives that are considered important for the welfare and security of the United States.