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Mathematics 22 Online
OpenStudy (anonymous):

Help please?

OpenStudy (anonymous):

What's your question?

OpenStudy (anonymous):

Godfrey just got a new credit card that offers both an introductory APR and a standard APR. If the standard APR is 11.2%, which of the following rates would most likely be the introductory APR? A. 21.2% B. 11.2% C. 1.2% D. 31.2%

OpenStudy (anonymous):

Hmm, I'm not that familiar with banking, but my guess is that the introductory APR would be lower than a standard APR because banks tend to reward loyal customers with higher rates.Therefore a new customer might get a lower rate. My best GUESS would be C. 1.2%.

OpenStudy (anonymous):

Yes, I agree. Intro APR's are typically 0-2% but only last 6-12 months. The standard APR will always be higher than introductory.

OpenStudy (anonymous):

Yes its 1.2%

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