Question

The percentage charged each month on purchases charged to the credit card

account is called the__?


A) periodic rate

B) new balance

C) unpaid balance

D) minimum payment

Answer 1

A) periodic rate

Explanation:

Because a percentage that is charged or added to the credit card we assume that it is an interest rate, they also tell us that it is charged every month, that is, it has a known collection frequency, which means that it is Newspaper.

therefore, the answer in this case is A) periodic rate since it complies with the premise of the statement