Question: Tom is considering two ways of financing a spring break vacation. He could put it on your credit card, at 18 % APR, compounded monthly,

Tom is considering two ways of financing a spring break vacation. He could put it on your credit card, at

18 % APR, compounded monthly, or borrow the money from your parents, who want an interest payment of

8 % every six months. Which is the lower rate?

(Note: Be careful not to round any intermediate steps less than six decimal places.)

calculatePls show me how to calulate on calculator:)a

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