Mathematics

Karma Nelson

24 June, 19:42

Wilson has a balance of $890 on a credit card with an APR of 18.7%, compounded monthly. About how much will he save in interest over the course of a year if he transfers his balance to a credit card with an APR of 12.5%, compounded monthly? (Assume that Wilson will make no payments or new purchases during the year, and ignore any possible late-payment fees.)

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