A Credit Card Bill Shows a Balance Due of $2500

question 93

Multiple Choice

A credit card bill shows a balance due of $2500 with a monthly interest rate of 1.53%. What is the APR?

• A) 18.36%
• B) 19.99%
• C) 22.92%
• D) 25.49%

---

Definitions:

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and ignore situational factors when judging others' behaviors.

Standard Deviation

An indicator of how much the values in a dataset spread out or differ from each other.

Normal Curve

A bell-shaped curve that represents the distribution of many types of data where most occurrences take place in the middle of the range.

Probability

The measure or estimation of how likely it is that an event will occur, expressed as a number between 0 (impossible) and 1 (certain).