Question: need both parts solved with explanation and without excel please 51 Jennifer Lee, an engineering major in her junior year, has received in the mail

need both parts solved with explanation and without excel please

51 Jennifer Lee, an engineering major in her junior year, has received in the mail two guaranteed-line-of-credit applications from two different banks. Each bank offers a different annual fee and finance charge. Jennifer expects her average monthly balance after payment to be $500 and plans to keep the card she chooses for only 24 months. (After graduation, she will apply for a new card.) Jennifer's interest rate (on her savings account) is 8% compounded daily. (a) Compute the effective annual interest rate for each card. (b) Which bank's credit card should Jennifer choose

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