Question
Based on the Card Statement below, which of the following statements is TRUE? CARD Statement A. The cardholder is carrying a balance over from the last period. B. The cardholder was charged interest on her balances for the last period because she made her payment on time. C. If the cardholder makes her minimum payment of 35.00 by the due date, she will NOT be charged interest on her balances. D. If the cardholder pays 523.20 by the due date on the bill, she will pay NO interest to the credit card company.
Answer
4.2
(253 Votes)
Zola
Professional · Tutor for 6 years
Answer
D. If the cardholder pays $523.20 by the due date on the bill, she will pay NO interest to the credit card company.
Explanation
This credit card statement provides all the financial details for the cardholder TERESA TORRES from the previous balance to the new one. The data includes elements like Previous Balance, Payments, Purchases & Other Charges, Cash Advances, FINANCE CHARGE and the New Balance. Also, information about the Account Number, Statement Closing Date, Credit Line and Available Credit are provided. Let's evaluate each statement:A. The cardholder is carrying a balance over from the last period. This is not true as the previous balance of
1,686.15.B. The cardholder was charged interest on her balances for the last period because she made her payment on time. This is not true as the FINANCE CHARGE is
35.00 by the due date, she will NOT be charged interest on her balances. This statement cannot be verified as the statement does not provide information on the credit card company's policy on interest charges.D. If the cardholder pays
523.20 and if paid by the due date, it is common for credit card companies not to charge interest.Therefore, based on the information provided in the statement, the most accurate statement is D.