Question: Hello, I need assistance with this question, any help would be greatly appreciated. Thank you 17. You are considering signing up for a new cash

Hello, I need assistance with this question, any help would be greatly appreciated.

Thank you

17. You are considering signing up for a new "cash back" credit card. By using this credit card, the card company will give you a cash payment at the end of each month equal to 4% of the value of your credit card bill during that month (e.g., if you spend $100 on your credit card in January, the card company will pay you $4 in cash at the end of the month). In order to sign up for this credit card, you will have to pay an annual fee at the beginning of the year. Suppose you reliably spend $1,000 on your credit card each month. If you can receive . 75% monthly compound interest on your savings, what is the largest annual fee that you'd be willing to pay in order to enroll in this credit card

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