Question: Janine Waite has several credit cards on which she is

Janine Waite has several credit cards, on which she is carrying a total current balance of $14,500. She is considering transferring this balance to a new card issued by a local bank. The bank advertises that, for a 2 percent fee, she can transfer her balance to a card that charges a 0 percent interest rate on transferred balances for the first nine months. Calculate the fee that Janine would pay to transfer the balance, and describe the benefits and draw-backs of balance transfer cards.

View Solution:

Sale on SolutionInn
  • CreatedFebruary 13, 2015
  • Files Included
Post your question