answer question 4

As a college student, you have received two credit card offers. The first card has a 17% APR. An examination of the footnotes reveals that this card compounds monthly. The next credit card has a 16.25% APR and compounds weekly. What is the effective annual rate of the cheaper card? Solve the problems below. Be sure to show your work. If you use the formula, be sure to write it out a long with each step. If you are using a financial calculator, be sure to write out your inputs (including if you switch you calculator from end mode to beginning mode)