Mathematics, 08.04.2021 20:20 donaldwilliams31
Cynthia had a credit card with a 17% APR and a $3,265 balance. She had budgeted to have the credit card paid off in 24 months. But after missing a single monthly payment, Cynthia’s credit card company has increased her interest rate to 21%. How much extra will Cynthia have to pay in finance charges (interest) because of the increase in her APR if she still pays off the credit card in 24 months? a. $152.16 b. $272.08 c. $609.32 d. $761.48
Answers: 1
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Which account has the highest effective annual interest rate? not necessary but show how you got your answer.a. account 1: interest is compounded quarterly at an annual rate of 4.20%.b. account 2: interest is compounded monthly at an annual rate of 4.15%.c. account 3: interest is compounded semiannually at an annual rate of 4.10%d. account 4: interest is compounded annually at a rate of 4.25%.
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Cynthia had a credit card with a 17% APR and a $3,265 balance. She had budgeted to have the credit c...
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