Ask Question
BusinessBusiness
4 August, 04:57

Carlos's credit card has an APR of 14.78% and a grace period of 18 days, and Carlos pays his balance in full every month. If his last billing cycle ended on March 28, 2010, and he made his payment on April 13, 2010, did he owe any interest on his last statement's balance? A. Yes, because he didn't pay within the grace period.

+2
Answers (2)
  1. 4 August, 05:17
    0
    No, Carlos would not owe any interest on his last statement balance because he paid off his credit card within his billing cycle grace period. As long as the individual pays the amount due within the grace period allotted, no interest will be charged on the funds. A grace period is the amount of time between when the bank or organization would like payment and when they will consider the payment as late.
  2. 4 August, 06:14
    0
    Carlos wouldn't owe any interest because he paid with the 18 day grace. He paid on the 16th day.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Carlos's credit card has an APR of 14.78% and a grace period of 18 days, and Carlos pays his balance in full every month. If his last ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Despite zero population growth, why is the population of the United States growing?
Answers (1)
Hudson Hotel collects 15% in city sales taxes on room rentals, in addition to a $2 per room, per night, occupancy tax.
Answers (1)
South Company purchased North Company. South Company paid $550,000 cash and assumed all of North Company's liabilities. On the date of purchase, North's books showed tangible assets of $500,000, liabilities of $20,000, and equity of $480,000.
Answers (1)
Acme Manufacturing Company's controller was classifying costs for the most recent financial statement period. Which of the following should be excluded from the calculation of gross margin? Group of answer choices Factory worker wages.
Answers (1)
Use the price of apples and oranges to calculate a price index called the Apple and Oranges Price Index (AOPI). Apples cost $0.50 in 2002 and $1 in 2009, whereas oranges cost $1 in 2002 and $0.50 in 2009.
Answers (1)
New Questions in Business
Fleet Foot Shoes has been successful at differentiating itself from competitors by claiming a premium price for its athletic footwear based on superior design and high-quality materials.
Answers (1)
Which of the following statements is most likely true of market follower strategies? market followers have the resources to expand the market by developing new users, new uses, and more usage of its products.
Answers (1)
The return on a Futures contract A) is Highly related to the low margin requirement B) is always equal to or greater than zero C) Tends to be fairly stable from one trading day to the next D) is solely related to the current price of the underlying
Answers (1)
On October 15, 2018, a 5% stock dividend was declared and distributed. The fair value of the common stock on this date was $31.8 per share. Fractional share rights represented 100,000 shares. Cash was paid in lieu of issuing fractional share rights.
Answers (1)
Which sources of information would be the most inclusive for an entrepreneur determining information to complete financial statements?
Answers (1)
Home » Business » Carlos's credit card has an APR of 14.78% and a grace period of 18 days, and Carlos pays his balance in full every month.
Sign Up Forgot Password?