This Question: 2 pts IO of 14 (0 complete) This Quiz: 20 pts Dorothy Laymon is c

Question

This Question: 2 pts IO of 14 (0 complete) This Quiz: 20 pts Dorothy Laymon is considering two bank card offers that are the same in all respects except for the following Bank Adarges no annallee and charges montly interest of 2.26% on the upaid balance BankBcharges a S40 annual fee and monthly interest of 2 03% onthe unpaid balance on Nex From her records, Dorothy has found that the unpaid balance she tends to cany from month to month is quite consistent and averages $890 ction 7 hn741 (a) Her total yearly cost to use the cardifshe chooses the card tom bank Ab tionR 1 Da (Round to the nearest cent as needed ) ssignmen Estimate her total yearty cost to use the cardit she chooses the card from (a) Bank A (b) Bank B Round to the nearest cent as needed bj Her total yearly cost to use the card # she chooses the card from bank B is s to MyMath aned, run Br to How to Enter your answer in each of the answer boxes help? Go

Explanation / Answer

Balance = 890

Bank A :
2.26% of 890
0.0226 * 890
20.114

So, yrly amt = 20.114 * 12

= 241.37 ---> with bank a

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Bank B :
2.03% of 890
= 0.0203 * 890
= 18.067

So, yrly amt = 18.067*12 + (40 dollar annual fee)

= 216.804 + 40

256.80 ---> Bank B

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