<u>The correct answer is option (c).</u>
<u>Marcia has saved $543.84 by consolidating her both the credit cards.</u>
<u>
</u>
Further Explanation:
Credit card:
Generally, Credit card is issued by financial institutes such as banks. Credit card refers to a plastic card which allows cardholders to borrow the funds from the respective bank and spend the funds as per their requirements.
A credit card can be used for the purchase of goods and services. Generally, a credit card has a specific limit. It is known as a line of credit (LOC). The cardholder can withdraw or use the funds up to the LOC. The cardholder has to pay the amount which is borrowed along with interest on the borrowed funds after a specific time, which is defined and stated at the time of issuing the credit card.
48 months payment of Credit Card A = $39.38×48
= $1890.24
48 months payment of Credit Card B = $28.05×48
=$1346.4
Amount saved in four years is ($1890.24- $1346.4) = $543.84.
Learn more:
1. Learn more about the money owed to the credit card company
brainly.com/question/8750254
2. Learn more about the common credit card fee
brainly.com/question/1124275
3. Learn more about making the on-time minimum payment of credit card
brainly.com/question/6453895
Answer details:
Grade: High School
Subject: Finance
Chapter: Interest Rates
Keywords: Credit cards, payment, monthly payment of cards, card balance, interest on credit card, Marcia has two credit cards, would like to consolidate the cards, lower interest rates.
