AnswersLiteracy and Comprehension B WHSMath - Consumer Math: Credit CardsQuestion 8
8
QuizMultiple Choice

Math - Consumer Math: Credit Cards

Question 8 • Literacy and Comprehension B (WHS)

What are fees?

Answer
A
The interest rate that commercial banks charge their most credit-worthy customers.
B
The fee you pay to use a credit card calculated on outstanding balance and APR percentage.
C
A fixed sum charged, as by an institution or by law, for a privilege.
D
Different rates of interest apply to different purchases on a credit card.

Explanation

Fees are fixed sums charged for a service, privilege, or other purpose, sometimes by an institution or by law. Choice C gives that definition. The other choices describe interest rates or interest charges on credit-card balances, not fees in general.

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