Credit card A has an APR of 19 3 and an annual fee of 84

Last updated: 4/1/2024

Credit card A has an APR of 19 3 and an annual fee of 84 while credit card B has an APR of 24 6 and no annual fee All else being equal which of these equations can be used to solve for the principal P for which the cards offer the same deal over the course of a year Assume all interest is compounded monthly 12 84 A P 1 0 1934 1 0 24 12 12 12 12 B P 1 0 198 584p 1 0 24 12 12 12 12 C P 1 0 198 84 P 1 0 245 12 12 D D P 1 0 193 2 84 12 P 1 0 246 12