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Answer:

The annual percentage rate of a credit card feature determines the amount of interest paid on unpaid balances.

A credit card's APR is an annualized percentage rate that is applied monthly—that is, the monthly amount charged that appears on the bill is one-twelfth of the annual APR. Most credit cards have several APRs attached. Different rates for cash advances and purchases are common.

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The annual percentage rate is a credit card feature that determines the amount of interest paid on unpaid balances.

What are the features of Credit Card?

The five main features of credit card are:

  • No annual fee.
  • Low interest rates.
  • No penalty APR.
  • Annual percentage rate
  • No balance transfer fee.

Therefore, Annual percentage rate is one of the main feature of the credit card that calculate the amount of interest payment on an unpaid balance.

Learn more about the interest rate, refer to:

https://brainly.com/question/13324776

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