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Ellie has an unpaid credit card balance of $500. The card charges interest at a rate of 18% per annum, compounded daily. She has $500

Ellie has an unpaid credit card balance of $500. The card charges interest at a rate of 18% per annum, compounded daily. She has $500 in a banking account earning an effective interest rate of 2% per annum. What would be the total cost to Ellie of not paying off the credit card balance for a year?

Points: 1

$80

$98

$72

$89

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