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OpenStudy (anonymous):
Jesse has a balance of $1200 on a credit card with an APR of 18.7%, compounded monthly. About how much will he save in interest over the course of a year if he transfers his balance to a credit card with an APR of 12.5%, compounded monthly? (Assume that Jesse will make no payments or new purchases during the year and ignore any possible late payment fees.) A. $181.46 B. $117.85 C. $85.77 D. $87.33
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