Alyssa just got a new credit card that offers both an introductory apr and a standard apr. if the standard apr is 16.1%, which of the following rates would most likely be the introductory apr?

step-by-step explanation:

(s)he  is right it would be 5.5% because it is smaller than 15.5% or anything smaller than 15.5% in general

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

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