Eudora transfer the balance of $6400 to a new credit card at the beginning of the year. The card offered an introductory APR of 7.8% for the first three months and a standard APR of 26.5% thereafter. if the card compounds interest monthly what will Adora's balance be after the end of the year?

Answer rating: 100% (QA)

To calculate Eudoras balance after the end of the year we need to consider the two different APRs an... View the full answer