emiliemeledy emiliemeledy

29-03-2017
Mathematics

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Credit card A offers an APR of 23.16%, compounded monthly, while credit card B offers an APR of 23.02%, compounded daily. All else being equal, which card offers the better deal for the consumer?

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maryamahmed7913 maryamahmed7913

21-02-2022

Answer: Credit card A, because it's effective interest rate is about 0.09 LESS THAN that of credit card B.

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