Your christmas ski vacation was great but it unfortunately, Ask an Expert

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Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your exist12, 500 balance from your current credit card, which charges an annual rate of 20.3 percent, to a new credit card charging a rate of 10.9 percent.

How much faster could you pay the loan off by making your planned monthly payments of $250 with the new card? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Number of months

What if there was a 1 percent fee charged on any balances transferred? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Number of months

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92408408

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