You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of 4 percent pe compounded monthly for the first six months, increasing thereafter to 18.9 percent per year, compounded monthly. Ass transfer the $19,500 balance from your existing credit card and make no subsequent payments, how much interest will end of the first year? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Interest owed

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