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Which of the following practices by a credit card company results in lower interest charges to the cardholder?     The card company states interest as a monthly percentage rather than an annual percentage.   The card company allows a grace period before interest is accrued.   The card company allows cardholders to skip payments on their cards.   The card company calculates finance charges from the date of purchase to the date the amount is paid.

Which of the following practices by a credit card company results in lower interest charges to the cardholder?     The card company states interest as a monthly percentage rather than an annual percentage.   The card company allows a grace period before interest is accrued.   The card company allows cardholders to skip payments on their cards.   The card company calculates finance charges from the date of purchase to the date the amount is paid.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 86APSA: Accounting for Notes Receivable Yarnell Electronics sells computer systems to small businesses....
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Which of the following practices by a credit card company results in lower interest charges to the cardholder?

 

 

 The card company states interest as a monthly percentage rather than an annual percentage.

 

 The card company allows a grace period before interest is accrued.

 

 The card company allows cardholders to skip payments on their cards.

 

 The card company calculates finance charges from the date of purchase to the date the amount is paid.
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