Existing credit card and make no subsequent payments

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Reference no: EM131009922

You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of 0.6 percent per year, compounded monthly for the first six months, increasing thereafter to 17.5 percent compounded monthly. Assume you transfer the $6,500 balance from your existing credit card and make no subsequent payments. what is the amount of interest?

Reference no: EM131009922

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