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5 May, 01:40

Credit card A has an APR of 18.9% and an annual fee of $40, while credit card B has an APR of 19.7% and no annual fee. All else being equal, at about what balance will the cards offer the same deal over the course of a year? (Assume all interest is compounded monthly.)

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  1. 5 May, 02:14
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    Credit card A: y = 0.189x + 40

    Credit card B: y = 0.197x

    Answer: $5000
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