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Which balance accrues the most interest in a month? Credit Card Interest Rate (APR) Balance Credit Limit MarkedUp 9.65% $458.90 $1,500.00 Cred 8.8% $2,249.80 $2,500.00

Which balance accrues the most interest in a month?

Credit Card Interest Rate (APR) Balance Credit Limit
MarkedUp 9.65% $458.90 $1,500.00
Cred 8.8% $2,249.80 $2,500.00
BankLine 14.9% $946.95 $4,000.00

You owe $2,264.96 on a credit card at a 14.7% APR. You pay $500.00/month. How many months does it take to pay off your balance?

7 months

8 months

5 months

3 months

You save $15,000.00. You place one-third in a savings account earning a 4.6% APR compounded annually. You then invest one quarter of the remaining balance in a 3-year U.S. Treasury bond earning a 5.2% APR compounded annually and the rest in a stock plan. Your stock plan increases in value 3% the first year, decreases 8% in value the second year, and increases 6% in value the third year. What is the balance of the U.S. Treasury bond by the end of the third year?

$4,618.81

$3,910.02

$2,910.63

$5,722.23

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