Question

Which of the following are true if you pay only the minimum amount each month towards your credit card bill? AYou will be charged interest on your remaining balance. BYour Annual Percentage Rate will increase. CYou may be in debt for a long time. D

Answer 1

I would say that A and C would apply ie that you will be charged interest on your remaining balance and you will be in debt for a long time, depending on your balance. If you can make larger monthly payments, then more goes to the principal and less to interest and you can pay it off faster.