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schumer box lists the main information credit card, such as its apr, grace period, minimum payment. what is meant by the

Question

A Schumer box lists the main information about a credit card, such as its APR, grace period, and minimum payment. What is meant by the term APR? Choose 1 answer: A It is the amount of time you have to pay off your balance before interest starts accruing B It is the yearly interest rate you will be charged on your credit card balance. C It is the amount of time you have to pay your annual fee.

Answer

4.3 (334 Votes)
Verificación de expertos
Grayson Advanced · Tutor for 1 years

Answer

### (B) It is the yearly interest rate you will be charged on your credit card balance.

Explanation

## Step 1: Understand the term APR### APR stands for Annual Percentage Rate, which is the yearly interest rate charged on credit card balances.## Step 2: Identify the correct multiple-choice option### Compare the provided choices to the definition of APR.