Answer Happy

Posted: **Fri Jul 01, 2022 7:41 am**

You are considering two ways of financing a spring breakvacation. You could put it on your credit card, at 14% APR,compounded monthly, or borrow the money from your parents, whowant an interest payment of 9% every six months. Which is thelower rate?
Part 1
The effective annual rate for your credit card is what percent? (Round to two decimal places.)
Part 2 The effective annual rate for the loan from your parentsis what percent (Round to two decimal places.)
Part 3 The option with the lower effective annual rate is whichoption

Answer Happy

You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 14% APR, c

You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 14% APR, c

Answer Happy

You are considering two ways of financing a spring break vacation. You could put it on your credit​ card, at ​14% APR, c

You are considering two ways of financing a spring break vacation. You could put it on your credit​ card, at ​14% APR, c

You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 14% APR, c

You are considering two ways of financing a spring break vacation. You could put it on your credit card, at 14% APR, c