Question
Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the
Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $13,700 balance from your current credit card, which charges an annual rate of 21.5 percent, to a new credit card charging a rate of 12.1 percent. |
How much faster could you pay the loan off by making your planned monthly payments of $310 with the new card?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
Number of months |
What if there was a 1 percent fee charged on any balances transferred?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
Number of months |
|
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