# Credit Card A Offers An Introductory Apr Of 7.6

2690 users searched for this homework answer last month and 80 are doing it now, let’s get your homework done.

This Top Homework Answer is High School level and belongs to the Advanced placement (ap) subject.

This answer got 170 “Big Thanks” from other students from places like Irvine or Burkesville.

## Question

Credit card A offers an introductory APR of 7.6% for the first 3 months and a standard APR of 23.4% thereafter, while credit card B offers an introductory APR of 7.9% for the first 3 months and a standard APR of 22.9% thereafter. All else being equal, which of these statements is correct? (Assume all interest is compounded monthly.) A. Credit card B is the better deal over the course of the first 3 months and over the course of the first year. B. Credit card B is the better deal over the course of the first 3 months, but credit card A is the better deal over the course of the first year. C. Credit card A is the better deal over the course of the first 3 months and over the course of the first year. D. Credit card A is the better deal over the course of the first 3 months, but credit card B is the better deal over the course of the first year.

AnswerD. Credit card A is the better deal over the course of the first 3 months, but credit card B is the better deal over the course of the first year.ExplanationAn Introductory rate is low rate given by credit card companies to its clients as an incentive for card application. An introductory APR with a 0% offer simply means that a person is not required to pay interest on his or her purchase for a particular period of time. Introductory APR could last from 6 to 12 months. For  the first 3 month, card A (7.6%) offers a better deal than card B(7.9%). Over the course of the year, card B(22.9%) offers a better deal than card A(23.4%)

## Students are also searching for

• __________ of people reported driving within two hours after drug or alcohol use.
• how do the terms omaha, sword, and utah relate to the battle of normandy?
• during which of the following stages of thunderstorm development does precipitation begin?

If you have more homework to do you can use the search bar to find the answer to other homework: 30 have done it today and 13 in the last hour.