You are a college freshman and have a credit card. you immediately purchase a television set for $1200. your credit limit is $20

Question

3 years ago

11

You are a college freshman and have a credit card. you immediately purchase a television set for $1200. your credit limit is $20

00. lets assume that you make no payments and purchase nothing more and there are no other fees. the monthly interest rate is 1.12% what is your initial credit card balance?
a. $0
b.$100
c. $2000
d. $1200

Mathematics

2 answers:

iris [78.8K] · Answer 1 · 2022-04-20T23:49:57+03:00

Answer:

Option D is the answer.

Step-by-step explanation:

A credit card balance is the amount of money a person owes to his credit card company. When you purchase something using your credit card When you use your c increases and when you make any payments for your purchases, the balance decreases. If any balance is left at a month end, it is carried forward to the next month's bill.

So, in the given scenario, the initial credit card balance is $1200.

Law Incorporation [45] · Answer 2 · 2022-04-20T22:45:53+03:00

Law Incorporation [45]3 years ago

4 0

D. i think, but i’m not really sure tbh