Credit Card Fees and Charges Felix's credit card has a variable interest rate, within a defined range, that changes periodically. The rate that the financial institution that issued his card uses as a basis to determine the current interest rate is called the base rate. The interest rate that applies to the credit card is computed as the sum of the base rate plus a certain percentage. According to the terms of his card, the interest rate is the base rate plus 6% Further, the minimum interest rate is 10%, and the maximum interest rate is 16%. If the computed rate is less than or equal to 10%, he'll be charged 10%. . If the computed rate is greater than or equal to 16%, he'll be charged 16%. . If the computed rate is between 10% and 16%, he'll be charged the computed rate. Today, the base rate is 5%. What is Felix's interest rate today? | % In addition to interest charges, under certain circumstances, Felix could be subject to any of the following other tees and charges: . Late payment fees . Over-the-limit charges . Foreign transaction fees . Balance transfer fees Felix's credit card is issued in the country where he is a citizen. During a recent vacation to another continent, he used his credit card to pay for lodging, meals, and tourist attractions. Felix will likely be charged balance transfer fees late payment fees foreign transaction fees Felix currently carries a balance on his Visa from month to month. He's going to move his Visa balance to a MasterCard card that charges a lower interest rate. Felix will likely be charged balance transfer fees foreign transaction fees late payment fees Felix's credit card payment was due on April 9. He made a payment on April 21. Felix will likely be charged late payment fees balance transfer fees foreign transaction fees