Answer:
2. interest is the monetary charge for the privilege of borrowing money.
it works as a daily rate calculated by dividing your annual percentage rate by 365, and then multiplying your current balance by the daily rate.
3. benefits: buy on credit, interest-free cash withdrawals, discounts and cashbacks, improvement of credit score, insurance coverage.
drawbacks: debt, damaging the card, extra fees, limited use.
6. Annual percentage rate, annual fee, minimum repayment, cash backs, loyalty points/rewards and charges.
7. grace period is the period of time after the payment is due but before late fees, interest or other penalties start to accrue. Grace period can help you to plan large purchases in a way that maximizes your interest-free period.
8. pay the balance in full and on time, pay more than the minimum required, be mindful of your credit limit.
Explanation:
for the missing answers I couldn't see the picture. i hope this is helpful.
