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AnnyKZ [126]
3 years ago
13

Harold has a balance of $2200 on a credit card with an APR of 31.3%, compounded monthly. About how much will he save in interest

over the course of a year if he transfers his balance to a credit card with an APR of 19.1%, compounded monthly? (Assume that Harold will make no payments or new purchases during the year, and ignore any possible late payment fees.)
Business
2 answers:
Sergio [31]3 years ago
6 0

Answer:

$339

Explanation:

If Harold doesn't make any more payments or purchases during the year, his balance at the end of the year will be:

APR 31.3%

$2,200 x (1 + 31.3%/12)¹² = $2,200 x (1 + 2.61%)¹² = $2,200 x 1.0261¹² = $2,997

APR 19.1%

$2,200 x (1 + 19.1%/12)¹² = $2,200 x (1 + 1.59%)¹² = $2,200 x 1.0159¹² = $2,658

The transfer would save Harold $339 (= $2,997 - $2,658)

Naddik [55]3 years ago
4 0
The answer is 337.49
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Law Incorporation [45]

Answer:

Explanation:

Issue: Will the court rule in support of Daniel’s argument that Nintendo breached the warranty based on reasonable expectation on the performance of an expensive system and statements made while selling the gaming system?

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The customer’s reasonable expectation of the existence of the gaming system based on the price leads to implied warranty. The goods sold should be logically fit for the general purpose for which it is sold. It should be of proper quality to satisfy the implied warranty of merchantability and the goods should fit the particular purpose for which the buyer will use the goods to satisfy the implied warranty of fitness for a particular purpose.

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