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The answers are in the bottom right corner. Found the first two but having trouble understanding the $6,300.70 and finding it You receive a credit
The answers are in the bottom right corner. Found the first two but having trouble understanding the $6,300.70 and finding it
You receive a credit cart offer in the mail at it states an APR (annual percentage rate) of 24.24% per year. What is the effective rate if the compounding period is monthly, or daily ? If I transfer a balance of $6000 to the credit card WITH a 3% balance transfer fee (charged at the end of the 30 day period) and using the daily effective interest rate for a 30 day month what would be the amount owed after 1 month assumina interest is due plus fee plus balance 2.02%0.066411%$6,300.70Step by Step Solution
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