What would be the credit card balance at the end

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Reference no: EM132070029

You received a credit card application from Sun Bank offering an introductory raye of 2.9% per year compounded monthly for the first six months increasing thereafter to 17% compounded. monthly.

This offer is good as long as you transfer your current debt from your existing card.

Assuming that you will transfer $3,000 balance and that you will continue to make $100 monthly payment(without making any subsequent purchases) what would be the credit card balance at the end of the first year?

Reference no: EM132070029

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