Float can be defined as:
A)the interest charged during one billing period.
B)the principal balance due on a loan.
C)a home equity loan.
D)a certain number of days during which no interest is charged.
E)a lump-sum loan from a credit union.

Question

Quizplus · Accepted Answer

Float refers to the period of time between when a purchase is made and when the payment is due. During this time, no interest is charged, making D the correct choice.

Float Can Be Defined As