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How much total interest will pay for larson

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Reference no: EM132807765

Gabriel is comparing three investment accounts offering different rates.

Account A: APR of 2.85% compounding monthly

Account B: APR of 2.98% compounding quarterly

Account C: APR of 2.90% compounding daily

Problem 1: Which account will give Gabriel at least a 3% annual yield?

A. Account A

B. Account B

C. Account C

D. Account B and Account C

Problem 2: Jakob has a previous balance of $861 on a credit card with a 20.8% APR compounded monthly. If he made a payment of $73 this month, what is the new balance on his credit card?

A. $1,040.09

B. $967.09

C. $802.92

D. $788.00

Problem 3: Larson uses his credit card to purchase a new video game system for $519.82. He can pay off up to $225 per month. The card has an annual rate of 15.4% compounded monthly. How much total interest will he pay?

A $81.39

B. $4.72

C. $11.57

D. $13.94

Reference no: EM132807765

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