Credit card companies require low minimum payments that impose significant interest costs on consumers choosing to pay the minimum. Recent legislation has required credit card companies to show on customer billing statements how much interest would be
paid and how long it would take to repay the current balance if only the minimum is paid. Behavioral economists would expect this legislation to:
Credit card companies require low minimum payments that impose significant interest costs
on consumers choosing to pay the minimum. Recent legislation has required credit card
companies to show on customer billing statements how much interest would be paid and how
long it would take to repay the current balance if only the minimum is paid. Behavioral
economists would expect this legislation to:
Answer: D
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