Estimate the answer by picking the best choice without calculating. A reasonable APR for a credit card is
A) 17%
B) 35%
C) 9% __________ (Enter A, B, or C )

Question

Estimate the answer by picking the best choice without calculating. A reasonable APR for a credit card is
A) 17% 
B) 35% 
C) 9% __________ (Enter A, B, or C )

Quizplus · Accepted Answer

The average APR for credit cards in the US is around 16%, with some cards offering rates as low as 9% for people with good credit. Option A of 17% is close to the average, while option B of 35% is significantly higher than most credit card rates. Therefore, option C of 9% is the best choice as it falls within the range of good rates for credit cards.

Estimate the Answer by Picking the Best Choice Without Calculating