# CC #2: Question Preview (ID: 27852)

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Calculate the daily finance charge if the annual percentage rate is 24.5%. |
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a) 0.0671% | b) 6.71% | c) .02042% | d) 2.042% | |

Calculate the annual percentage rate if the daily finance charge is .0317%. |
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a) 11.5% | b) 1.157% | c) 0.03804% | d) 0.3804% | |

Calculate the daily finance charge if the annual percentage rate is 17.99%. |
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a) 0.0493% | b) 4.93% | c) .01499% | d) 1.499% | |

Calculate the prinicpal payment based on the following information: Outstanding balance = $225.00, Annual percentage rate = 22%, Minimum payment = 3.5% of the outstanding balance or $10, whichever is greater |
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a) $5.87 | b) $3.75 | c) $7.88 | d) $4.13 | |

Calculate the interest payment based on the following information: Outstanding balance = $225.00, Annual percentage rate = 22%, Minimum payment = 3.5% of the outstanding balance or $10, whichever is greater |
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a) $4.13 | b) $5.87 | c) $7.88 | d) $10.00 | |

Calculate the principal payment based on the following information: Outstanding balance = $580.00, Annual percentage rate = 20%, Minimum payment = 3% of the outstanding balance or $10, whichever is greater |
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a) $9.67 | b) $7.73 | c) $17.40 | d) $0.33 | |

Calculate the interest payment based on the following information: Outstanding balance = $580.00, Annual percentage rate = 20%, Minimum payment = 3% of the outstanding balance or $10, whichever is greater |
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a) $9.67 | b) $20.30 | c) $17.40 | d) $10.00 | |

Calculate the minimum monthly payment based on the following information: Outstanding balance = $580.00, Annual percentage rate = 20%, Minimum payment = 3% of the outstanding balance or $10, whichever is greater |
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a) $9.67 | b) $20.30 | c) $17.40 | d) $10.00 | |

Calculate the minimum monthly payment based on the following information: Outstanding balance = $225.00, Annual percentage rate = 22%, Minimum payment = 3.5% of the outstanding balance or $10, whichever is greater |
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a) $5.87 | b) $4.13 | c) $7.88 | d) $10.00 | |

On your last credit card statement you had an outstanding balance of $520 on your account. During the current billing cycle you made additional purchases totaling $225 and you made a payment of $105 toward the outstanding balance. What is the curren |
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a) $415 | b) $640 | c) $745 | d) $850 | |

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