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: 21

Answer

This statement makes sense.

Work Step by Step

The increase in the amount of balance due this month might have occurred owing to increase in the amount of interest rates and fees. In case of credit card, there is not any such cap on interest rates and fees. The issuers of the card may hike the amount of interest rates and the fees at any time they like. The amount of current month’s balance due on the credit card may vary from the last month’s amount owing to no cap on interest rates and fees. Hence, the given statement makes sense.
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