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1 8 1 point What is the significance of annual percentage rate ( APR ) and the minimum monthly payment for credit cards? APR and

18

1

point

What is the significance of annual percentage rate

(

APR

)

and the minimum monthly payment for credit cards?

APR and minimum monthly payment are the same thing.

The minimum monthly payment determines the APR.

The APR is reflected in the interest you pay on your balance with each monthly payment.

Debit cards have a higher APR than credit cards.

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