Homework: Chapter 5 Homework Save Score: 0 of 1 pt 2 of 13 (0 complete) HW Score: 0%, 0 of 13 pts P 5-4 (similar to) You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 12% APR, compounded monthly, or borrow the money from your parents, who want an interest payment of 9% every six months. Which is the lower rate? (Note: Be careful not to round any intermediate steps less than air decimal places.) The effective annual rate for your credit card is 9% (Round to two decimal places.) Question Help Enter your answer in the answer box and then click Check Answer Clear All