Ask Question
BusinessBusiness
24 September, 11:00

The minimum amount of money a credit card holder must pay to keep his or

her account in good standing is called the

A. billing cycle

B. finance charge

c. minimum monthly payment

O D. grace period

+4
Answers (1)
  1. 24 September, 12:29
    0
    Finance Charge.

    Explanation:

    Credit card is an instrument issued by the bank that allows the holder to buy goods and services in credit. In other words, it gives the holder loan opportunity that are repayable in the future.

    The bank charges a finance charge or interest rate on the amount owed based on the annual percentage rate, the amount owed and the length of repayment period. This is paid until the balance is fully offset within the grace period.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The minimum amount of money a credit card holder must pay to keep his or her account in good standing is called the A. billing cycle B. ...” 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
The following information was taken from the financial statements of Lea Corporation for December 31, Year 2 and Year 1: Year 2 total sales: $5,000,000.
Answers (1)
Multicountry competition refers to a market situation where
Answers (1)
Social media is which of the following? A. sc ashley_4eves B. ig ashy_babyy and _ashley. rp_ C. tiktok ashyy_p25 D. all of the above!
Answers (2)
Within the AD/AS model, which one of the following adjustments will cause the economy to return to its long-run capacity when output is temporarily greater than the economy's long-run potential? a.
Answers (1)
Why do store owner want their workers to wear clean, ironed clothing?
Answers (1)
New Questions in Business
2. Matthew bakes apple pies that he sells at the local farmer's market. If the price of apples increases, the a. supply curve for Matthew's pies will increase. b. supply curve for Matthew's pies will decrease. c.
Answers (1)
Suppose Compco Systems pays no dividends but spent $ 5.18 billion on share repurchases last year. If Compco's equity cost of capital is 11.5 % , and if the amount spent on repurchases is expected to grow by 7.
Answers (1)
Commercial paper is very popular with many firms because Multiple Choice it can usually be issued below the prime rate. there are no required lines of credit at the bank. it satisfies the firm's need for long-term funds.
Answers (1)
Andrews Corp. ended the year carrying $33,836,000 worth of inventory. Had they sold their entire inventory at their current prices, how much more revenue would it have brought to Andrews Corp.?
Answers (1)
The manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 6,100 direct labor-hours will be required in May. The variable overhead rate is $8.50 per direct labor-hour.
Answers (1)
Home » Business » The minimum amount of money a credit card holder must pay to keep his or her account in good standing is called the A. billing cycle B. finance charge c. minimum monthly payment O D. grace period
Sign Up Forgot Password?