You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of $\mathrm{.}5$ percent per year, compounded monthly for the first six months, increasing thereafter to $18\mathrm{.}5$ percent compounded monthly. Assuming you transfer the $$7,000$ balance from your existing credit card and make no subsequent payments, how much interest will you owe at the end of the first year?

First APR

Periods for first APR

Second APR

Periods for second APR

Balance transferred

Months per year