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Today Hugo got a new credit card, and he made a purchase of $1400. The card offers an introductory APR of 0% for the
Today Hugo got a new credit card, and he made a purchase of $1400. The card offers an introductory APR of 0% for the first 5 months and a standard APR of 30.8% thereafter. If the card compounds interest monthly, how much money will the introductory APR save Hugo in interest over the first 5 months? (Assume that Hugo will make no payments or additional purchases: during the first 5 months, and ignore any possible late payment fees.) A. $1589.13 B. $1897.59 C. $497.59 OD. $189.13
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