Thomas has four credit cards, and he has ended up charging more than he could pay for. Now he carries a total of $9,000 balance on his credit cards that charges an average of 21.99% APR (daily compounding). He is now considering opening a new one that promises zero percent introductory interest rate for a year on balance transfers and then 23.99% APR thereafter. If he does, however, there will be a one-time fee of 4% of the transferred amount. Should he take advantage of the new card? Under what conditions should he do it?