Costs of Borrowing Money Quick Check

Question

4 of 54 of 5 Items
Question
What is a credit card’s grace period?(1 point)
Responses

It is the amount of time after a purchase and before it starts accruing interest.
It is the amount of time after a purchase and before it starts accruing interest.

It is the period during which the card’s interest rate cannot change.
It is the period during which the card’s interest rate cannot change.

It is the amount of time between the bill being issued and your payment being due.
It is the amount of time between the bill being issued and your payment being due.

It is the period during which you can return the card and not incur any fees.

Answer 1

It is the amount of time after a purchase and before it starts accruing interest.