Question
In all of the examples in this section, the monthly finance charge is always less than the minimum payment. In fact, this is always the
In all of the examples in this section, the monthly finance charge is always less than the minimum payment. In fact, this is always the case. Explain what would happen to the balance if the minimum payment were less than the monthly finance charge.
A) The balance would remain the same.
B) It cannot be determined.
C) The balance would increase.
D) The balance would decrease.
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes
4th Edition
0256147175, 978-0256147179
