Introductory APR for 6 months from the date of account opening: After that, your APR will be
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Question:
Introductory APR for 6 months from the date of account opening:
After that, your APR will be 10.99 to 23.99% based on creditworthiness. This APR will vary with the market based on the prime rate.
Brian has a very low credit score and has to pay the highest interest rate. He is not able to pay off his balance each month, so he pays interest.
Calculate how much interest he would pay in a year (which includes the 6 month introductory rate) if he maintained an average balance of $5,000 each month.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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