Devon Forgets to Pay his Credit Card Bill for Three Months Which of the following Statements is True? Answer Explained
Devon Forgets to Pay his Credit Card Bill for Three Months. Which of the following Statements is True? the correct answer is - his A.P.R. (interest rate) will rise to 30.24% and stay there until he makes six consecutive minimum payments.
by Niranjani
Updated Oct 19, 2023
Devon Forgets to Pay his Credit Card Bill for Three Months. Which of the following Statements is True?
A) A Late Payment fee will not be charged to his account.
B) A Balance Transfer fee will be charged to his account.
C) His A.P.R. (interest rate) will rise to 30.24% until he pays back the amount he owes.
D) His A.P.R. (interest rate) will rise to 30.24% and stay there until he makes six consecutive minimum payments.
The correct answer is option C - his A.P.R. (interest rate) will rise to 30.24% and stay there until he makes six consecutive minimum payments.
TRENDING
Disclaimer: The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.
Devon Forgets to Pay his Credit Card Bill for Three Months. Which of the following Statements is True -FAQ
1. Devon Forgets to Pay his Credit Card Bill for Three Months. Which of the following Statements is True?
A) A Late Payment fee will not be charged to his account.
B) A Balance Transfer fee will be charged to his account.
C) His A.P.R. (interest rate) will rise to 30.24% until he pays back the amount he owes.
D) His A.P.R. (interest rate) will rise to 30.24% and stay there until he makes six consecutive minimum payments.
Option C is the correct answer - his A.P.R. (interest rate) will rise to 30.24% and stay there until he makes six consecutive minimum payments.