Advertisements for credit cards project an appealing image of prestige and convenience to consumers. Used wisely, credit cards can be a useful financial tool. However, closer investigation reveals that card issuers are creative and thorough in the ways that they seek to make money off of cardholders. To complete this Project, you will research the credit terms for three credit cards. Conduct a web search for "credit card application." Find three cards to compare and contrast. The cards must be from three separate banks or lenders. Much of the required information will be found in the Schumer Box, which is typically on the card webpage under a link titled "important credit terms" or something similar. Credit Card #1 Credit Card #2 1) Which credit card did you choose? 2) What is the APR for purchases? 3) If the rate is variable, how is it determined? 4) How can you avoid paying interest? 5) What is the late penalty payment? 6) What is the annual fee? 7) What is the cost of a $100 cash advance? B) List three perks offered by the card issuer. 1 . 1. 2. 2. 3. 3. Conduct a web search for "minimum payment calculator." Use a calculator to answer the questions. 9) What would be the minimum monthly payment for a balance of $5,000 on the card with the higher interest rate? If you are unable to find out how the minimum payment is calculated for the card you selected, assume the minimum balance is 1% of the balance plus interest