IXL | Debit cards and credit cards

Nicole used her debit card to buy a box of donuts for $12.99 from the Sweet Tooth donut shop.

Will $12.99 be removed from Nicole's bank account within a few days?

yes

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question

On Clayton's most recent credit card statement, his balance was $215. The minimum payment due was $25, but he decided to pay $75. His interest rate is 17%.

Which statement is true?

Clayton will not be charged any interest.

Clayton will be charged interest on the $140 he still owes.

Clayton will be charged interest on the $215 he spent.

key idea

When you use a credit

card,

you can buy items now but pay for your purchase later. You'll get a monthly statement for the money you owe. If you don't pay the full amount, you might have to pay interest on the remaining balance. You might also pay an annual fee for the credit card.

solution

Clayton's credit card balance was $215. He paid $75. So, he will be charged interest on his remaining balance of $140.

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