Tanya has a balance of $1700 on a credit card with an APR of 24.2%, compounded monthly. About how much will she save in interest over the course of a year if she transfers her balance to a credit card with an APR of 10.8%, compounded monthly? (Assume that Tanya will make no payments or new purchases during the year, and ignore any possible late payment fees.)

A. $202.61
B. $152.51
C. $314.28
D. $267.28

@lulu22 @ganeshie8 @helpme1.2 @live10000000 @John_ES @rrp240

Question

Tanya has a balance of $1700 on a credit card with an APR of 24.2%, compounded monthly. About how much will she save in interest over the course of a year if she transfers her balance to a credit card with an APR of 10.8%, compounded monthly? (Assume that Tanya will make no payments or new purchases during the year, and ignore any possible late payment fees.)

A.	$202.61
 		B.	$152.51
 		C.	$314.28
 		D.	$267.28

@lulu22 @ganeshie8 @helpme1.2 @live10000000 @John_ES @rrp240

john_es · Answer

$$1700 \left(1+\frac{24.2}{1200}\right)^{12}-1700 \left(1+\frac{10.8}{1200}\right)^{12}=267.28$$

anonymous · Answer

APEX: $267.28 ~~~ EDDIE DARK CONFIRMED YO! ;)