Name: Academic Honesty Statement MATH 1001 By signing below, affirm that I have not given nor received any unauthorized ald on this Project. All work is my own Instructor: Signature Date Unit 2 Project: Credit Card Instructions: Use the instructions Document to help you complete this project. Then scan and submit all pages of this student Work document to the appropriate Assignment folder in D2L In this project, you will explore several different scenarios concerning credit card usage and payments. Investigation You have decided to open a new credit card and have received two pre-approved offers in the mail. Consider both offers to determine which one is better. Option 1: VISA with no annual fee and 16.996 APR (14158% per month) Option 2: Mastercard with $65 annual fee and 13.99 APR [1.1558% per month) For comparison purposes, assume you will have 51000 balance and only make the minimum payment each month for 1 year. Remember, minimum payment is Finance Charge on that month's balance plus 1 of balance. Complete the following amortization tables to help you analyze the options. The first row is to help you get started Make sure you get the same numbers before finishing the table. Round All dolzamestechsten of the proiect to the nearest.cent Option 1: VISA with no annual fee and 16.995. APR (1.4158 per month) Month Balance Finance Charge New Balance Minimum Payment Ending Balance 1 $1000.00 $14.16 $1104.16 $24.15 $990.00 2 5990.00 3 4 7 9 Credit Card - Student Work Document which is why the TE til On MARISAN Few Mata 1 S21 5000 1 Thread.00 derarth with the de - 400 per Sharmant As 100th can Show much with an average touch with 1 2 12 3 Precios yra minimum 5 Credit Card Work Document The 1 . wand wo 1 1 1 4 You want to spend your card 2000 Decreto met de har programet und you may wants to hard in the three month the montant decide to the Cedit Card Woo Candom Darpe west One wwwport you want to our chachir Begining 1 love Slobo SS1 4 the total from the removed most of 171 $19.7 On the spreader provided in the Current Bancun effet, is the moment you want How many tite you to payoff your cd? How they And how much mrt will you du pare Look Ung the provided with the project material yard with different balance payment and you what affects the number of months will take a profound the the amount of your chahte has the rest effect with er the pretthet, Set Payell Goal north How much interest will you dygn thal Credit Cart Wort Document Ce Wortes Name: Academic Honesty Statement MATH 1001 By signing below, affirm that I have not given nor received any unauthorized ald on this Project. All work is my own Instructor: Signature Date Unit 2 Project: Credit Card Instructions: Use the instructions Document to help you complete this project. Then scan and submit all pages of this student Work document to the appropriate Assignment folder in D2L In this project, you will explore several different scenarios concerning credit card usage and payments. Investigation You have decided to open a new credit card and have received two pre-approved offers in the mail. Consider both offers to determine which one is better. Option 1: VISA with no annual fee and 16.996 APR (14158% per month) Option 2: Mastercard with $65 annual fee and 13.99 APR [1.1558% per month) For comparison purposes, assume you will have 51000 balance and only make the minimum payment each month for 1 year. Remember, minimum payment is Finance Charge on that month's balance plus 1 of balance. Complete the following amortization tables to help you analyze the options. The first row is to help you get started Make sure you get the same numbers before finishing the table. Round All dolzamestechsten of the proiect to the nearest.cent Option 1: VISA with no annual fee and 16.995. APR (1.4158 per month) Month Balance Finance Charge New Balance Minimum Payment Ending Balance 1 $1000.00 $14.16 $1104.16 $24.15 $990.00 2 5990.00 3 4 7 9 Credit Card - Student Work Document which is why the TE til On MARISAN Few Mata 1 S21 5000 1 Thread.00 derarth with the de - 400 per Sharmant As 100th can Show much with an average touch with 1 2 12 3 Precios yra minimum 5 Credit Card Work Document The 1 . wand wo 1 1 1 4 You want to spend your card 2000 Decreto met de har programet und you may wants to hard in the three month the montant decide to the Cedit Card Woo Candom Darpe west One wwwport you want to our chachir Begining 1 love Slobo SS1 4 the total from the removed most of 171 $19.7 On the spreader provided in the Current Bancun effet, is the moment you want How many tite you to payoff your cd? How they And how much mrt will you du pare Look Ung the provided with the project material yard with different balance payment and you what affects the number of months will take a profound the the amount of your chahte has the rest effect with er the pretthet, Set Payell Goal north How much interest will you dygn thal Credit Cart Wort Document Ce Wortes