A Credit Card Bill Shows a Balance Due of $750

question 36

Multiple Choice

A credit card bill shows a balance due of $750 with a minimum payment of $15 and a monthly interest rate of 1.62%. What is the EAR?

• A) 17.28%
• B) 18.72%
• C) 19.44%
• D) 21.26%

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Definitions:

Chemical Cycling

The movement and exchange of organic and inorganic matter back into the production of living matter, involving processes such as the carbon and nitrogen cycles.

Inorganic Nutrients

Nutrients that do not contain carbon and are needed by the body in small amounts, such as minerals and water.

Natural Ecosystem

A community of living organisms and their physical environment interacting as a system in nature, untouched by significant human influence.

Successive Trophic Level

A hierarchical position in a food chain or food web, higher levels are progressively further from primary producers in terms of their source of food.