How does the interest rate affect credit payments

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Reference no: EM131306182

1. Simple Interest. How does the interest rate affect your credit payments? What is meant by simple interest? What is the annual percentage rate (APR), and when is it used?

2. Credit Card Statement. List some items that appear on the credit card statement. What accounts for the difference between your previous balance and your new balance?

Reference no: EM131306182

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