Discover the answers you need at Westonci.ca, where experts provide clear and concise information on various topics. Discover comprehensive solutions to your questions from a wide network of experts on our user-friendly platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.
Sagot :
The annual percentage rate increases to a variable rate of 10.99%, 15.99%, or 17.99%.
The term annual percentage rate of charge refers to the interest rate for an entire year rather than just a monthly fee or rate as applied on a loan, mortgage loan, credit card, etc. It can also be referred to as a nominal APR or an effective APR. It is an annual rate of a finance charge. The annual percentage rate (APR) for a loan may take origination fees into account. APR is crucial because it can help you estimate how much you'll pay for a loan. A lower APR is preferable for borrowers compared to a higher APR because it lowers the cost of borrowing money.
Note that the full question is:
Interest Rates and Interest Charges Annual Percentage Rate (APR) for Purchases 0% introductory APR for 10 months. After that, your APR will be 10.99%, 15.99%, or 17.99%, based on your creditworthiness. This APR will vary with the market, based on the Prime Rate. What happens to the APR after 10 months?
A) It decreases to 0%.
B) It increases to a variable rate of 10.99%, 15.99%, or 17.99%.
C)The credit terms do not specify how the rate will change.
D)There is no change to the interest rate.
Learn more about annual percentage rate https://brainly.com/question/24715857
#SPJ4
Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.