10 11 12 13 14 15 16 17 18 Question 34 (5 points) The due date for the balance of $2.000 on your credit card is tomorrow and you have only enough money to survive the next six months without paying this debt. In six months you will have enough money to pay off the debt. The credit card company charges 18% p.a., compounded monthly. Kneecap Finance offers a better rate, 16%, compounded weekly (assumes 52 weeks in a year). (a) Should you borrow $2,000 from Kneecap to pay the credit card bill? Assume there are 26 weeks in six months. 19 20 21 22 23 24 (b) Suppose you were earning enough money each week during the next six months that you could repay a loan in the usual form of blended payments (principal and interest). How much would you pay each week if you borrowed $2,000 for six months from Kneecap? .. 25 26 27 28 29 30 31 32 33 MacBook Air