Question

1. credit cards offer a grace period of at least 21 days from the time the statement is closed and is calculated. if you pay your full balance within this grace period, you will not be charged

a) any overdraft fees
b) any cash advance fees
c) any balance transfer fees
d) any interest on your purchases

1. most credit cards charge interest rates of ______ on balances carried from one month

a) 3% to 7%
b) 7% to 12%
c) 12% to 15%
d) 15% to 22%

1. sheyanne received her first credit card last month. she has a credit limit of $500, a

$5 for each cash advance she makes. she also has overdraft protection at a cost of $30
over her credit limit. in her first week with the card, sheyanne made two cash advance
she also purchased $255 worth of clothes and shoes at a department store using her c
much will sheyanne be charged on her first bill?

1. radhas family owns a small gift shop that accepts credit cards. however, r

3% of all credit card purchases to the issuing credit card company. if a customer
worth of merchandise with a credit card, how much will radhas family have to
company?

1. which of the following is necessary to pay off debt?

a) a low interest rate
b) debt consolidation
c) a credit check
d) a greater cash inflow than outflow

Explanation:

To pay off debt, having a greater cash inflow than outflow is essential. A low - interest rate (A) can be helpful but not necessary. Debt consolidation (B) is a strategy but not a necessity. A credit check (C) is related to obtaining credit, not paying off debt.

Answer:

D. a greater cash inflow than outflow