Rena transferred a balance of $2150 to a new credit card at the beginning of

the year. The card offered an introductory APR of 5.9% for the first 3 months

and a standard APR of 30.2% thereafter. If the card compounds interest

monthly, which of these expressions represents Rena's balance at the end of

the year? (Assume that Rena will make no payments or new purchases during

the year, and ignore any possible late payment fees.)

Question

Mathematics

Trace Castro

18 July, 23:30

Rena transferred a balance of $2150 to a new credit card at the beginning of

the year. The card offered an introductory APR of 5.9% for the first 3 months

and a standard APR of 30.2% thereafter. If the card compounds interest

monthly, which of these expressions represents Rena's balance at the end of

the year? (Assume that Rena will make no payments or new purchases during

the year, and ignore any possible late payment fees.)

+3

Answers (2)

Know the Answer?

Iris Haley · Answer 1

Answer:I think is

($2150) (1 + 0.059/12) ^3 (1 + 0.302/12) ^9

Quinn Black · Answer 2

Answer: 8374.25

Step-by-step explanation: if you where to be adding everything then that should be your answer by taking the percentage of 5.9 from 2150 and times it by three than take 30.2 percent of 2150 and times it by nine than add it all together your total would be 8374.25