Question
First card has rate of 9%; second card has rate of 15%; beginning balance of $1000, no payments made over 12 months. 1. Using the
First card has rate of 9%; second card has rate of 15%; beginning balance of $1000, no payments made over 12 months.
1.Using the formula, find the APY for each credit card. Card 1: Card 2:
2.What is the effective difference in percent between APR and APY? Card 1: Card 2:
3.What is the difference in the money paid in one year? Card 1: Card 2:
Over a period of 10 years, how much more will you have paid from APY than APR? Card 1: Card 2:
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Operations Management Processes And Supply Chains
Authors: Lee Krajewski, Naresh Malhotra, Larry Ritzman
13th Global Edition
129240986X, 978-1292409863
