In 2017 the Average APR on Standard Variable-Rate Credit Cards

question 6

Multiple Choice

In 2017 the average APR on standard variable-rate credit cards was

• A)17.2%.
• B)15.5%.
• C)16.0%.
• D)19.0%.

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Definitions:

Weekly Salary

A fixed amount of money paid to an employee on a weekly basis as compensation for performed work.

Utility Bill

A bill for services provided by a utility company, such as electricity, water, natural gas, or telecommunications.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the capital owned by the owners or shareholders.

Assets

Resources owned by a business that have economic value and can be converted into cash.