Question

Felipe transferred a balance of $3700 to a new credit...​

Answer 1

(3700)(1+.059/12)^4(1+.172/12)^8 is the corect answer -Apex

Explanation:

Answer 2

Option C is correct.

Explanation:

Felipe transferred a balance of $3700 to a new credit.

The card had an introductory offer of 5.9% APR for the first 4 months and after that 17.2 % APR.

The card compounds interest monthly, that gives n = 12

So, the equation that represents Felipe's balance at the end of the year will be:

`p(1+(r)/(n))^(a)* (1+(r)/(n))^(b)`

Here a is the introductory rate number of months that is 4

And b is the rest of the standard months that is 8

So, the expression becomes:

`3700(1+(0.059)/(12))^(4)* (1+(0.172)/(12))^(8)`