Question: Proctoring Enabled: Final Exam i 1 16 points 01:19:57 Saved Henry has received a credit card application from XX Banks offering an introductory rate

Proctoring Enabled: Final Exam i 1 16 points 01:19:57 Saved Henry has

Proctoring Enabled: Final Exam i 1 16 points 01:19:57 Saved Henry has received a credit card application from XX Banks offering an introductory rate of .5 percent per year, compounded monthly for the first six months, increasing thereafter to 17.6 percent compounded monthly. Assume he transfers the $6,600 balance from his existing credit card and makes no subsequent payments. How much interest will he owe at the end of the first year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Interest

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