Which credit card is better from the borrower standpoint

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Reference no: EM13287482

Suppose that you advance $1000 from one of the one of the following three credit cards: MASTER, VISA, AND DISCOVER. APR is the same as 12% for the three crdit cards. The three credit card employ annual compounding, quarterly compounding, and monthly compounding, respectively. Which credit card is better from the borrower's standpoint? (show work)

Reference no: EM13287482

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