Question
What is the annual percentage rate (APR) on a credit card?
Responses
the expected return on the credit card company's investments
the expected return on the credit card company's investments
the percentage of a person's income they can spend each year
the percentage of a person's income they can spend each year
the credit card's maximum spending limit
the credit card's maximum spending limit
the amount of interest charged on unpaid balances
Responses
the expected return on the credit card company's investments
the expected return on the credit card company's investments
the percentage of a person's income they can spend each year
the percentage of a person's income they can spend each year
the credit card's maximum spending limit
the credit card's maximum spending limit
the amount of interest charged on unpaid balances
Answers
GPT-4o mini
The annual percentage rate (APR) on a credit card refers to **the amount of interest charged on unpaid balances**. This rate indicates how much you will pay in interest if you carry a balance from one month to the next.