Mathematics, 29.10.2020 07:50 dontcareanyonemo
Tony wants to pay off his credit card balances within 12 months. He is trying to decide if he should use his $1,000 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 7% but charges a balance transfer fee of $75 for each balance
transfer. Evaluate Tony's options and recommend the debt management plan that would give him the lowest
monthly payment.
Credit Card A: $794
Credit Card B: $579
Answers: 3
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Tony wants to pay off his credit card balances within 12 months. He is trying to decide if he should...
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