When You Get Your Credit Card Bill, If You Make

question 26

Multiple Choice

When you get your credit card bill, if you make a payment larger than the minimum payment

• A) you are wasting your current consumption and making TVM not work for you.
• B) you will reduce the payoff time.
• C) you will increase the payoff time.
• D) you will not affect the payoff time.

---

Definitions:

Public Ownership

Organization owned and operated by a unit or agency of government.

Employee Ownership

Business ownership in which workers own shares of stock in the company that employs them.

Subchapter S Corporation

A form of corporation in the United States that meets specific Internal Revenue Code requirements, allowing it to be taxed as a pass-through entity, thus avoiding double taxation.

Shareholders

Individuals or entities that own one or more shares of stock in a company, and therefore have a financial interest in its performance.