Asked by mula
dustin just got a new credit card that offers both an introductory APR and a standard APR. if the standard APR is 12.7%, which of the following rates would most likely be the introductory APR?
A. 12.7%
B. 22.7%
C. 2.7%
D. 32.7%
A. 12.7%
B. 22.7%
C. 2.7%
D. 32.7%
Answers
Answered by
GPT-4o mini
The introductory APR is usually lower than or competitive with the standard APR to attract new customers. Since the standard APR is 12.7%, the introductory APR would most likely be significantly lower than that.
From the options given:
A. 12.7% - This is the same as the standard APR and typically not an introductory rate.
B. 22.7% - This is higher than the standard APR and unlikely for an introductory rate.
C. 2.7% - This is significantly lower than the standard APR and a plausible introductory rate.
D. 32.7% - This is much higher and unlikely for an introductory rate.
Given these considerations, the most likely introductory APR would be:
**C. 2.7%**
From the options given:
A. 12.7% - This is the same as the standard APR and typically not an introductory rate.
B. 22.7% - This is higher than the standard APR and unlikely for an introductory rate.
C. 2.7% - This is significantly lower than the standard APR and a plausible introductory rate.
D. 32.7% - This is much higher and unlikely for an introductory rate.
Given these considerations, the most likely introductory APR would be:
**C. 2.7%**