Answer:
Credit card A offers better deal for the consumer.
Step-by-step explanation:
Since, the effective rate of interest is,
Where, i is the stated annual rate,
n is the number of number of compounding periods,
For card A,
i = 23.16 % = 0.2316,
n = 12, ( 1 year = 12 months )
Thus, the effective interest rate,
While, For card B,
i = 23.02 % = 0.2302,
n = 365, ( 1 year = 12 months )
Thus, the effective interest rate,
Since, 0.25784 < 0.25876
Hence, credit card A offers better deal for the consumer.