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Business, 23.09.2019 19:00 snehpatel3356

Mary's credit card situation is out of control because she cannot afford to make her monthly payments. she has three credit cards with the following loan balances and aprs: card 1, $4 comma 3004,300, 2121%; card 2, $5 comma 8005,800, 2525%; and card 3, $3 comma 1003,100, 1717%. interest compounds monthly on all loan balances. a credit card loan consolidation company has captured mary's attention by stating they can save mary 2323% per month on her credit card payments. this company charges 16.516.5% apr. is the company's claim correct? assume a 1010-year repayment period.

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