Finance charges on two credit cards with the same stated APR
A)will always be the same.
B)by federal law must be calculated the same way.
C)will be determined by the type of credit card used.
D)will be determined by the method used to calculate balances.
E)none of these.

Question

Quizplus · Accepted Answer

The finance charges can vary based on the method used to calculate balances, even if the APR is the same. Different methods like average daily balance, adjusted balance, or previous balance can result in different finance charges.

Finance Charges on Two Credit Cards with the Same Stated