Jonathan is applying for a new credit card and needs to know which introductory Annual Percentage Rate (APR) he might expect to receive, given his credit history.
From the information provided, the introductory APR for purchases can be one of three values: 8.99%, 10.99%, or 12.99%. The exact rate offered depends on the applicant's creditworthiness.
In Jonathan's case, it is specified that he has missed several loan payments in the past, which has negatively impacted his credit score. Given his history of missed payments, Jonathan is likely to be classified as having poor creditworthiness.
With poor creditworthiness, we wouldn't expect Jonathan to qualify for the lowest introductory APR (8.99%) or even the middle bracket (10.99%). These rates are generally reserved for individuals with good or average credit scores. Instead, Jonathan will likely be assigned the highest of the introductory APRs offered due to his perceived higher risk to the lender.
Hence, the introductory APR that Jonathan might expect to receive is:
[tex]\[ \boxed{12.99\%} \][/tex]
After the introductory period, his APR will adjust to the standard 14.99% APR, but for the introductory period, given his credit history, 12.99% is the most probable rate.
