How much faster could you pay the loan off by making

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Reference no: EM13987949

Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $13,900 balance from your current credit card, which charges an annual rate of 21.7 percent, to a new credit card charging a rate of 12.3 percent.

How much faster could you pay the loan off by making your planned monthly payments of $320 with the new card?

What if there was a 3 percent fee charged on any balances transferred?

Reference no: EM13987949

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