1) Steve just started at Concordia and was happy to be taking FINA 200 as he knew little about credit cards. After reading Chapter 5, he decided to do a little research before applying for his first card. Steve knows to read the fine print especially as credit card details on cash advances can be different for residents of Quebec. As a resident of Quebec, which credit card(s) should Steve select if he is looking for the lowest effective interest rate on cash advances? Hint: use the credit card link as well as 365 days for compounding. L TD Rewards Visa* Card II. RBC ION+ Visa Credit Card CIBC Aeroplan Visa Card for Students a) I and II with an effective interest rate of 22.36% b) I with an effective interest rate of 23.35% c) III with an effective interest rate of 25.03% d) II and III with an effective interest rate of 24.59% e) All three cards have the same effective interest rate of 24.84%

1) Steve just started at Concordia and was happy to be taking FINA 200 as he knew little about credit cards. After reading Chapter 5 , he decided to do a little research before applying for his first card. Steve knows to read the fine print especially as credit card details on cash advances can be different for residents of Quebec. As a resident of Quebec, which credit card(s) should Steve select if he is looking for the lowest effective interest rate on cash advances? Hint: use the credit card link as well as 365 days for compounding. 1. TD Rewards Visa* Card II. RBC ION+ Visa Credit Card III. CIBC Aeroplan@ Visa Card for Students a) I and II with an effective interest rate of 22.36% b) I with an effective interest rate of 23.35% c) III with an effective interest rate of 25.03% d) II and III with an effective interest rate of 24.59%