Question

Rena transferred a balance of $2150 to a new credit card at the beginning of
the year. The card offered an introductory APR of 5.9% for the first 3 months
and a standard APR of 30.2% thereafter. If the card compounds interest
monthly, which of these expressions represents Rena's balance at the end of
the year? (Assume that Rena will make no payments or new purchases during
the year, and ignore any possible late payment fees.)

Answer 1

Answer: 8374.25

Step-by-step explanation: if you where to be adding everything then that should be your answer by taking the percentage of 5.9 from 2150 and times it by three than take 30.2 percent of 2150 and times it by nine than add it all together your total would be 8374.25

Answer 2

Answer:I think is

($2150)(1+ 0.059/12)^3(1+ 0.302/12)^9