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Please sovle using hand written , NOT USING SPREADSHEET (EXCEL). Thanks Smart Visa, Principal Card, and Acrobat Express are three credit card companies that charge

Please sovle using hand written , NOT USING SPREADSHEET (EXCEL). Thanksimage text in transcribed

Smart Visa, Principal Card, and Acrobat Express are three credit card companies that charge different interest on overdue balances. Smart Visa charges 24% compounded daily, Principal Card charges 25% compounded weekly, and Acrobat Express charges 26% compounded monthly. What is the effective annual interest rate charged by each of the three companies? What is the effective semi-annual interest rate charged by each of the three companies? Which credit card company would you prefer? How much should the interest rate be for Smart Visa in order to break-even with Principal Card

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