1 a credit card company oiumlnoteuroers me a card with 20, Ask an Expert

Finance

1. A credit card company oï¬€ers me a card with 20% APR, compounded daily. I make purchases of $3,000 on the card, and allow interest to accrue on those purchases for a year. Assuming each year has 365 days, the amount I will have to pay back is:

(a) $3,315 (b) $3,600 (c) $3,664 (d) $3,901

2. What industry is most identified with interest rate risk?

a. savings and loans

b. commerical banks

c. credit unions

d. insurance companies

e. mutual funds

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92768847

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