Calculation of apr, Eduardo has a balance of $3,265.96 on

Calculation of apr

Reference no: EM13117291

Eduardo has a balance of $3,265.96 on his credit card with an APR of 12.6%. His credit card requires a minimum monthly payment of 2% of the balance. If he transfers his balance to a credit card with an APR of 8.5% how of his first payment would be interest and how much would be applied to the principal?

Reference no: EM13117291

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