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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