Understanding Credit Card Statements

A credit card statement shows a previous balance of $500, a payment of $200, and new charges of $150. What is the new balance?

• $450

• $350

• $400

• $300

Tags

CCSS.7.NS.A.3

If the annual percentage rate (APR) on a credit card is 18%, what is the monthly interest rate?

• 1.5%

• 1.8%

• 2%

• 1.2%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

A credit card statement shows a minimum payment due of $25 and a total balance of $500. If you only make the minimum payment, what will be your new balance assuming no interest or additional charges?

• $475

• $500

• $525

• $450

Tags

CCSS.7.NS.A.3

If a credit card has a balance of $1000 and an APR of 24%, what is the interest charged for one month?

• $20

• $24

• $18

• $22

Tags

CCSS.7.RP.A.3

A credit card statement shows a previous balance of 600, and the APR is 24%. What is the new interest charged?

• $24

• $120

• $144

• $12

Tags

CCSS.7.RP.A.3

If you have a credit limit of $2000 and your current balance is $1500, how much more can you charge to your credit card?

• $500

• $1000

• $1500

• $2000

Tags

CCSS.7.EE.B.3

If the APR on a credit card is 15%, what is the monthly interest rate?

• 1.25%

• 12.5%

• 0.0125%

• 125%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

A credit card statement shows a previous balance of $1000, a payment of $500, with an APR of 15%. What is the new balance?

• $506.25

• $1012.50

• $512.50

• $1006.25

Tags

CCSS.7.RP.A.3

If you have a credit card balance of $1200 and you make a payment of $400, what is your new balance assuming no interest or additional charges?

• $800

• $1000

• $900

• $850

Tags

CCSS.7.NS.A.1A

What does the term "balance" refer to in the context of a credit card?

• The amount of money available to withdraw from an ATM

• The total amount of rewards earned

• The amount of money owed on a credit card account

• The limit set by the credit card company on spending

Tags

CCSS.6.NS.C.7C