Mike Has a MasterCard with an Annual Fee of $25,18

question 69

Multiple Choice

Mike has a MasterCard with an annual fee of $25,18% interest,and a $1,000 credit limit.He always pays the total outstanding balance monthly.His most recent monthly statement lists last month's payment,new charges this month totaling $1,500,and a $30 fee.That fee is most likely the result of

• A) interest charges.
• B) his annual fee.
• C) an over-the-limit fee.
• D) a late payment.
• E) transaction fees on purchases.