Chrissy currently has a credit card that charges 15 percent interest. She usually carries a balance of
Question:
Chrissy currently has a credit card that charges 15 percent interest. She usually carries a balance of about $500. Chrissy has received an offer for a new credit card with a teaser rate of 3 percent for the first three months; after that, the rate increases to 19.5 percent. Assume that interest is compounded daily. What will her total annual interest be with her current card? What will her interest be the first year after she switches? Should she switch?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Current card PY 12 CY 365 N 1 IY 15 PV 500 PMT 0 FV 50629 The mont...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
2+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
