Your credit card has a balance of $4700 and an annual interest rate of 19% . With no further purchases charged to the card and the balance being paid off over five years, the monthly payment is $122 , and the total interest paid is $2620 . You can get a bank loan at 11.5% with a term of six years. Complete parts. (a) and (b) below. A. Tha mnnthiv nowmante fnr the hank inan are annervimatalvs This is t lese than the month? Select the correct choice below and fill in the answer boxes to complete your choice. (Do not round until the final answer. Then round to the nearest dollar as needed.) A. The monthly payments for the bank loan are approximately? This is s less than the monthly credit-card payments. B. The monthly payments for the bank loan are approximately $ This is $ more than the monthly credit-card payments.
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Your credit card has a balance of $4700 and an annual interest rate of.docx
1. Your credit card has a balance of $4700 and an annual interest rate of 19% . With no further
purchases charged to the card and the balance being paid off over five years, the monthly
payment is $122 , and the total interest paid is $2620 . You can get a bank loan at 11.5% with a
term of six years. Complete parts. (a) and (b) below. A. Tha mnnthiv nowmante fnr the hank
inan are annervimatalvs This is t lese than the month? Select the correct choice below and fill in
the answer boxes to complete your choice. (Do not round until the final answer. Then round to
the nearest dollar as needed.) A. The monthly payments for the bank loan are approximately?
This is s less than the monthly credit-card payments. B. The monthly payments for the bank loan
are approximately $ This is $ more than the monthly credit-card payments.
