Shawn has a balance of $1200 on a credit card with an apr of 18.7%, compounded monthly. about how much will he save in interest over the course of a year if he transfers his balance to a credit card with an apr of 12.5%, compounded monthly?

Answer is D = 121.51

Use the Compound Interest Formula

A = P (1 + (R/12)/100)^(12*n)

Run 2 case

P = 1700

R = 18.7, R = 12.5

n = 1 (as the problem is asking over the course of a year)

Solve for A for both the R and subtract the two values of A to obtain ~121.51

Step-by-step explanation:

associative property hopes this ! : )

step-by-step explanation:

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take good notes.

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use mnemonics and other tricks.

do practice tests.

note: the best i know.