Solution-Credit card application, You receive a credit card

Credit card application

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Reference no: EM133239393

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You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of 2.1 percent per year. compounded monthly for the ?rst six months. increasing thereafter to 16 percent compounded monthly. Assuming you transfer the $8,300 balance from your existing credit card and make no subsequent payments, how much interest will you owe at the end of the ?rst year?

Reference no: EM133239393

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Credit card application

Reference no: EM133239393

Reference no: EM133239393

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