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On October 2 3 , you plan to purchase a $ 1 2 0 0 computer by usining one of yout two credit cards. The
On October you plan to purchase a $ computer by usining one of yout two credit cards. The silver card charges interest and calculates interest based on the balance on the first day of the previous month. The Gold card charges interest and calculates interest based on the average daily balance. Both cards have $ balance as of October The closing date is the end of each of the month for each card.
Your plab is to make a $ payment in November, make a $ payment in December, and pay off the remaining balance in January. All of your payments will be recieved and posted on the th of each month. No other charges will be made on the account. Round answers to the nearest cent.
A based on this information, calculate the interest in$ charged hy each card for this purchase.
Siver card $
Gold card $
Which card is the better deal and by how much in $
The blank as in what card is better deal by $
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