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03-09-2022
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what happens to the apr after 10 months? it decreases to 0%. it increases to a variable rate of 10.99%, 15.99%, or 17.99%. the credit terms do not specify how the rate will change. there is no change to the interest rate.

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11-09-2022

The annual percentage rate increases to a variable rate of 10.99%, 15.99%, or 17.99%.

The term annual percentage rate of charge refers to the interest rate for an entire year rather than just a monthly fee or rate as applied on a loan, mortgage loan, credit card, etc. It can also be referred to as a nominal APR or an effective APR. It is an annual rate of a finance charge. The annual percentage rate (APR) for a loan may take origination fees into account. APR is crucial because it can help you estimate how much you'll pay for a loan. A lower APR is preferable for borrowers compared to a higher APR because it lowers the cost of borrowing money.

Note that the full question is:

Interest Rates and Interest Charges Annual Percentage Rate (APR) for Purchases 0% introductory APR for 10 months. After that, your APR will be 10.99%, 15.99%, or 17.99%, based on your creditworthiness. This APR will vary with the market, based on the Prime Rate. What happens to the APR after 10 months?

A) It decreases to 0%.

B) It increases to a variable rate of 10.99%, 15.99%, or 17.99%.

C)The credit terms do not specify how the rate will change.

D)There is no change to the interest rate.

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