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Credit card a offers an APR of 25.68%, compounded monthly, while credit card B offers and APR of 25.32%, compounded daily. All else being equal, which card offers the better dea…
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Credit card a offers an APR of 25.68%, compounded monthly, while credit card B offers and APR of 25.32%, compounded daily. All else being equal, which card offers the better dea…
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May 19, 2018
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credit card a offers an APR of 25.68%, compounded monthly, while credit card B offers and APR of 25.32%, compounded daily. All else being equal, which card offers the better deal for the customer?
Mathematics
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Vikas Mangal
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Monthly
100×(1+0.2568÷12)^(12)=128.9
Daily
100×(1+0.2532÷360)^(360)=128.8
So 25.68%, compounded monthly
Is a better deal due to higher interest rate
Marcos Lara
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May 24, 2018
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Marcos Lara
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