3. before sending in your payment to the credit card company, you go to a bicycle store. how much can you…

3. before sending in your payment to the credit card company, you go to a bicycle store. how much can you spend before going over the credit limit on your card? a. $0, you are already over your credit limit b. $245 c. $755 4. which of the following statements is false? a. if you pay the minimum payment of $40.00, the bank will waive the interest charged on the balance you still owe. b. if you are late in making your credit card payment, you may have to pay a $35 fee. c. if you want to avoid any interest or fees, you should pay off your full statement balance by the due date.

3. before sending in your payment to the credit card company, you go to a bicycle store. how much can you spend before going over the credit limit on your card? a. $0, you are already over your credit limit b. $245 c. $755 4. which of the following statements is false? a. if you pay the minimum payment of $40.00, the bank will waive the interest charged on the balance you still owe. b. if you are late in making your credit card payment, you may have to pay a $35 fee. c. if you want to avoid any interest or fees, you should pay off your full statement balance by the due date.

Answer

Explanation:

Step1: Analyze credit - card rules

Credit - card companies typically charge interest on the remaining balance even if the minimum payment is made.

Step2: Evaluate each option

Option a: Paying the minimum payment usually does not waive the interest on the remaining balance. This is a false statement. Option b: Late - payment fees are common in credit - card agreements, and a $35 fee is not unusual. This is a true statement. Option c: Paying off the full statement balance by the due date is the way to avoid interest and fees. This is a true statement.

Answer:

a. If you pay the MINIMUM PAYMENT of $40.00, the bank will waive the interest charged on the balance you still owe.