Felix and Oscar applied for the same credit card from the same bank. The bank checked both of
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Mathematics, 05.05.2020 02:08 crazteeyn8290
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 12%. What was his monthly percentage rate?
B. Oscar was given a card with an APR of 15%. What was his monthly percentage rate?
C. If each of them had an average daily balance of $800 and had to pay a finance charge, how much more would Oscar pay then Felix?
Answers: 2
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