a. Felix was given a card with an APR of 14%. What was his monthly percentage rate? Round to the nearest hundredth of a percent.

2 answers:

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Answer: Felix and Oscar applied for the same credit card from the same bank. The bank checked both of their FICO scores. Felix had an excellent credit rating, and Oscar had a poor credit rating. a. Felix was given a card with an APR of 14%. What was his monthly percentage rate? Round to the nearest hundredth of a b. Oscar was given a card with an APR of 21%. What was his monthly percentage rate? Round to the nearest hůndredth of a percent. C. If each of them had an average daily balance of $800 for a specific month, and had to pay a finance charge, how much more would Oscar pay than Felix? percent.

Step-by-step explanation: Felix and Oscar applied for the same credit card from the same bank. The bank checked both of their FICO scores. Felix had an excellent credit rating, and Oscar had a poor credit rating. a. Felix was given a card with an APR of 14%. What was his monthly percentage rate? Round to the nearest hundredth of a b. Oscar was given a card with an APR of 21%. What was his monthly percentage rate? Round to the nearest hůndredth of a percent. C. If each of them had an average daily balance of $800 for a specific month, and had to pay a finance charge, how much more would Oscar pay than Felix? percent.