Serge M. answered • 02/08/17
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Professor of Accounting, retired. Ph.D., CPA
25 + .0992X = .1492X
26 = .5X
X = 500
Above $500 Bank A would cost less
Cody H.
asked • 02/08/17A person is Choosing between two credit cards.
A person is choosing between two credit cards. Bank A's card has an annual fee of $25 and charges 9.92% simple interest. Bank B's card has no annual fee but charges 14.92% simple interest. For what annual balance will the Bank A card cost less than the Bank B card?
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