Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - 8.8 Credit Cards - Exercise Set 8.8 - Page 565: 19

Answer

This statement does not make sense.

Work Step by Step

Whenever a person uses a credit card, he/ she is most likely to make the minimum required amount at the end of each month. However, he/ she is to pay the entire balance on time that is before the due date at the end of billing each month. If he/she fails to do so, then certain interest charges may be imposed on him/her in lieu of the outstanding amount. The user of the credit card is required to pay the entire amount due at the end of each month. Hence, the given statement does not make sense.
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