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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.

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.

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.

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Answer

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GraysonAdvanced · Tutor for 1 years

Answer

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

Explain

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