Credit card A offers an introductory APR of 7.6% for the first 3 months and a

standard APR of 23.4% thereafter, while credit card B offers an introductory

APR of 7.9% for the first 3 months and a standard APR of 22.9% thereafter. All

else being equal, which of these statements is correct? (Assume all interest

is compounded monthly.)

Question

Mathematics

Norah Shaw

23 March, 01:24

Credit card A offers an introductory APR of 7.6% for the first 3 months and a

standard APR of 23.4% thereafter, while credit card B offers an introductory

APR of 7.9% for the first 3 months and a standard APR of 22.9% thereafter. All

else being equal, which of these statements is correct? (Assume all interest

is compounded monthly.)

+2

Answers (2)

Know the Answer?

Ralph Hopkins · Answer 1

d. credit card a is the better deal over the course of the first 3 months, but credit card b is the better deal over the course of the first year.

Lisa Montgomery · Answer 2

Answer: Credit card A is the better deal over the course of 3 months, but credit card B is the better deal over a year.

Step-by-step explanation: APEX Quiz Answer