Answered step by step
Verified Expert Solution
Question
1 Approved Answer
thank you! if you can, please answer both parts with explenation. i have tried 4 different numbers and all are wrong Your Christmas ski vacation
thank you!
Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $12,900 balance from your current credit card, which charges an annual rate of 20.7 percent, to a new credit card charging a rate of 11.3 percent. a. How much faster could you pay the loan off by making your planned monthly payments of $270 with the new card? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What if there was a fee of 2 percent charged on any balances transferred? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) if you can, please answer both parts with explenation. i have tried 4 different numbers and all are wrong
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started