Lizzie Gunderson is trying to establish a credit history and applied for a Visa credit card.  She paid the previous month's statement balance in full.  The card carries a finance charge rate of 16%.  What is the amount of finance charge if Lizzie pays off the current $168.20 monthly statement balance in full?

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A:

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Q: can you hand write it?

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Q: station

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Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.