+ Question 3 of 15 > Note: Please make sure to properly format your answers. All dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($2,354.67). All percentage values in the answers need to include a percentage sign (%). For all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06). Check My Work Felix and Oscar applied for the same credit card from the same bank. The bank checked both of their FICO scores. Felix had an excellent credit rating, and Oscar had a poor credit rating.. a. Felix was given a card with an APR of 14%. What was his monthly percentage rate? Round to the nearest hundredth of a percent. 1.17% b. Oscar was given a card with an APR of 21%. What was his monthly percentage rate? Round to the nearest hundredth of a percent. c. If each of them had an average daily balance of $800 for a specific month and had to pay a finance charge, how much more would Oscar pay than Felix? Show All Feedback ✔ * 2/2
+ Question 3 of 15 > Note: Please make sure to properly format your answers. All dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($2,354.67). All percentage values in the answers need to include a percentage sign (%). For all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06). Check My Work Felix and Oscar applied for the same credit card from the same bank. The bank checked both of their FICO scores. Felix had an excellent credit rating, and Oscar had a poor credit rating.. a. Felix was given a card with an APR of 14%. What was his monthly percentage rate? Round to the nearest hundredth of a percent. 1.17% b. Oscar was given a card with an APR of 21%. What was his monthly percentage rate? Round to the nearest hundredth of a percent. c. If each of them had an average daily balance of $800 for a specific month and had to pay a finance charge, how much more would Oscar pay than Felix? Show All Feedback ✔ * 2/2
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Solution:- Felix and Oscar applied for the same credit card from the same bank.The bank checked both their FICO sores.felix had an excellent credit rating then Oscar.
a) Felix was given a card with an APR of 14% to change to monthly interest rate divided the APR by 12 so,
14/12. = 1.16%
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