Jose wants to pay off his credit card balances within 18 months. He is trying to decide if he should use his $1,750 in
savings to pay off part of the balances or if he should transfer the balances to a new card with a low introductory
rate. The new credit card has an introductory rate of 8% but charges a balance transfer fee of $60 for each balance
transfer. Jose decides to pay off Credit Card B using his savings and then transfer the balance of Card A to the new
card. Which of the following options shows the amount of Jose's new monthly payment?
Credit Card A: $1,154
Credit Card B $1,469
A. $90.43
B. $68.25
C. $71 80
D. $75.34

Question

08-04-2021
Mathematics

Answered

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Jose wants to pay off his credit card balances within 18 months. He is trying to decide if he should use his $1,750 in
savings to pay off part of the balances or if he should transfer the balances to a new card with a low introductory
rate. The new credit card has an introductory rate of 8% but charges a balance transfer fee of $60 for each balance
transfer. Jose decides to pay off Credit Card B using his savings and then transfer the balance of Card A to the new
card. Which of the following options shows the amount of Jose's new monthly payment?
Credit Card A: $1,154
Credit Card B $1,469
A. $90.43
B. $68.25
C. $71 80
D. $75.34

Sagot :

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