The APR on a Credit Card Account Is 16

question 10

Essay

The APR on a credit card account is 16%.Assuming a $1,926 balance and a $40 minimum payment,how much of the minimum payment will go to interest?

---

Definitions:

Basidiomycota

A large division of fungi, commonly known as club fungi, that includes mushrooms, toadstools, puffballs, and shelf fungi, characterized by producing spores on basidia.

Karyogamy

The final phase of the sexual cycle of fungi and algae, where the nuclei of two mating types or gametes fuse together to form a zygote.

Basidium

A microscopic, spore-producing structure found on the gills under the cap of a mushroom, characteristic of Basidiomycota fungi.

Mushrooms

Fungi that produce a fruiting body above or on the surface of soil, commonly edible and known for their variety in form and biological properties.