TH Lei wants to buy some decor items for her home. In total, all the items...
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TH Lei wants to buy some decor items for her home. In total, all the items will cost $979.30. She wants to pay for this cost by making regular monthly payments for 6 months. She has two different credit cards which she can use to pay: (10 pts) • Card A charges 19.9%, compounded daily, but Lei immediately gets 3% back on all purchases • Card B charges 12.7%, compounded daily, but Lei must pay a $20 fee for all purchases over $500. Which option costs less overall? TH Lei wants to buy some decor items for her home. In total, all the items will cost $979.30. She wants to pay for this cost by making regular monthly payments for 6 months. She has two different credit cards which she can use to pay: (10 pts) • Card A charges 19.9%, compounded daily, but Lei immediately gets 3% back on all purchases • Card B charges 12.7%, compounded daily, but Lei must pay a $20 fee for all purchases over $500. Which option costs less overall?
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The detailed answer for the above question is provided below Step 12 The total cost for Card A would be 97930 plus 199 interest compounded daily which ... View the full answer
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