Question
You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 15% APR, compounded monthly, or
You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 15% APR, compounded monthly, or borrow the money from your parents, who want an interest payment of 10% every six months?. Which is the lower rate?
Parents interest $___
Credit card interest $___
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The Money Markets Handbook A Practitioners Guide
Authors: Moorad Choudhry
1st Edition
0470821507, 978-0470821503
