Question
4. Brian has a choice between two credit cards. Credit card X has an annual interest rate of 16.5% with interest compounded seminally. Credit card
4. Brian has a choice between two credit cards. Credit card X has an annual interest rate of
16.5% with interest compounded seminally. Credit card Y has an annual interest rate of 16%
with interest compounded daily. Brian will choose credit card ____, with effective interest
rate ___.
- X; 17.18 %
- X, 17.93%
- Y; 16.64%
- Y; 17.35%
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Corporate Finance Investment And Advisory Applications
Authors: Jesse McDougall, Patrick Boyle
1st Edition
1530116597, 9781530116591
