Post Utme Igbinedion University 2024 Commerce Question 3

Practice objective / multiple choice question 3 from the 2024 Post Utme Igbinedion University Commerce examination.

Post Utme Igbinedion University 2024 Commerce Objective / Multiple Choice
Question 3 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • COMMERCE • objective

A bank offers a credit card with a 0% interest rate for the first 6 months. After the promotional period ends, the interest rate increases to 20%. What type of interest rate is the bank offering?

Answer Options

A. Fixed interest rate
B. Variable interest rate
Correct Answer C. Introductory interest rate
D. Tiered interest rate
Correct Answer
C
Correct Option:
Introductory interest rate

About This Question

This is Post Utme Igbinedion University 2024 Commerce Question 3. It is one of the objective questions from the 2024 Post Utme Igbinedion University Commerce examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support