Garrick is purchasing equipment for his job as a builder. The equipment costs $1000 and he wants to make monthly payments of $125. He has two different credit cards that he can use to finance the purchase. • Card A charges 9.9%, compounded daily, but it also charges a fee of $65 for all purchases over $1000 that is immediately added to the balance. • Card B charges 13.3%, compounded daily. What is the total cost of both options? Enter the total cost of the cheaper option here:

Garrick is purchasing equipment for his job as a builder. The equipment costs $1000 and he wants to make monthly payments of $125. He has two different credit cards that he can use to finance the purchase. • Card A charges 9.9%, compounded daily, but it also charges a fee of $65 for all purchases over $1000 that is immediately added to the balance. • Card B charges 13.3%, compounded daily. What is the total cost of both options? Enter the total cost of the cheaper option here:

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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