What is the annual percentage rate (apr) on a credit card? a. the expected return on the credit card company's investments b. the percentage of a person's income they can spend each year c. the amount of interest charged on unpaid balances d. the credit card's maximum spending limit
2b2t

Answer choice C

Explanation:

To be short and to the point, APR literally just means the percent of the money you owe that will receive interest over the course of the year. If you owe $100 on a credit card with 6% APR, then you'll be charged interest for $6 because it's 6%. Your final yearly payment would end up being $106 since the $6 is tacked on. :)

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