Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not
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Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $10,000 balance from your current credit card, which charges an annual rate of 19.8 percent, to a new credit card charging a rate of 6.2 percent. How much faster could you pay the loan off by making your planned monthly payments of $200 with the new card? What if there was a 2 percent fee charged on any balances transferred?
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Related Book For
Fundamentals of corporate finance
ISBN: 978-0073382395
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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