The Finance Charges on Two Credit Cards with the Same

question 103

Multiple Choice

The finance charges on two credit cards with the same stated annual percentage rate (APR) :

• A)will always be the same.
• B)will be the same as the interest rate is calculated as defined by federal law.
• C)will be determined by the types of credit cards used.
• D)will be determined by the methods used to calculate balances.
• E)will be decided by credit bureaus.

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Definitions:

Evidence

Information or signs indicating whether a belief or proposition is true or valid.

Critical Thinkers

Individuals who actively engage in analysis, synthesis, evaluation, and reflection to make informed decisions or solve problems.

Assumptions

Beliefs or statements taken for granted without proof, often serving as the basis for further reasoning or arguments.

Empirical Methods

Research methods that rely on observation, experimentation, and evidence rather than theory alone.