Question

Wilson has a balance of $890 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 Wilson will make no payments or new purchases during the year, and ignore any possible late payment fees.)
A)63.61
B)299.31
C)117.85
D)181.46

Answer 1

e