Business, 12.11.2019 21:31 starsapphire627

Your christmas ski vacation was great, but it unfortunately ran a bit over budget. all is not lost: you just received an offer in the mail to transfer your $15,000 balance from your current credit card, which charges an annual rate of 17.5 percent, to a new credit card charging a rate of 8.9 percent.

a. how much faster could you pay the loan off by making your planned monthly payments of $250 with the new card? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

b. what if there was a fee of 2 percent charged on any balances transferred? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

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