Question

Lois has a balance of $970 on a credit card with an APR of 24.2%, compounded monthly. About how much will she save in interest over the course of a year if she transfers her balance to a credit card with an APR of 10.8%, compounded monthly? (Assume that Lois will make no payments or new purchases during the year, and ignore any possible late payment fees.)

Answer 1

$152.51

Explanation:

Apex

Answer 2

$152.51
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