Suppose a person has a total credit card debt of $1,100 that has a 11 % yearly interest rate. This person also has a savings account with $5,500 that pays 1 % interest per year. Despite the net loss, the person keeps both. Calculate how many times the person appreciates the $1 of savings more than $1 of credit card debt if the person relates similarly to both values o percent paid and received. Enter your answer in the box below and round to two decimal places if necessary. Answer Keypar Keyboard Shortco times
Suppose a person has a total credit card debt of $1,100 that has a 11 % yearly interest rate. This person also has a savings account with $5,500 that pays 1 % interest per year. Despite the net loss, the person keeps both. Calculate how many times the person appreciates the $1 of savings more than $1 of credit card debt if the person relates similarly to both values o percent paid and received. Enter your answer in the box below and round to two decimal places if necessary. Answer Keypar Keyboard Shortco times
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter4: Going Into Debt
Section: Chapter Questions
Problem 3AA
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