Question

Which card would cost you the least and by how much? If a credit card company A offers a 2% rebate for all purchases during the year. You have purchased $4,350 worth of merchandise this year. Your interest for the year was $360. Card B offers no rebate but charges a lower interest rate. The interest for the year would be $270.

Answer 1

Card A:
$4,350  x 0.02 = $87
$360  - $87 = $273

Card B:
Interest $270 no rebate

so $273 - $270 = $3

Card B cost least and $3 less than card A