4. 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 14%. What was his monthly percentage rate? Round to the nearest hundredth of a b. Oscar was given a card with an APR of 21%. What was his monthly percentage rate? Round to the nearest hůndredth of a percent. C. If each of them had an average daily balance of $800 for a specific month, and had to pay a finance charge, how much more would Oscar pay than Felix? percent.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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4. 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 14%. What was his monthly
percentage rate? Round to the nearest hundredth of a percent.
b. Oscar was given a card with an APR of 21%. What was his monthly
percentage rate? Round to the nearest hůndredth of a percent.
c. If each of them had an average daily balance of $800 for a specific month, and
had to pay a finance charge, how much more would Oscar pay than Felix?
Transcribed Image Text:4. 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 14%. What was his monthly percentage rate? Round to the nearest hundredth of a percent. b. Oscar was given a card with an APR of 21%. What was his monthly percentage rate? Round to the nearest hůndredth of a percent. c. If each of them had an average daily balance of $800 for a specific month, and had to pay a finance charge, how much more would Oscar pay than Felix?
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