Answer:
Option D is right answer.
Step-by-step explanation:
Given APR of card A = 20.8%, monthly rate is 0.208/12
n = 12 as interest is compounded monthly.
t = 1 year
The annual fee of card A is $60.
So, formula for compound interest is
Putting the values in formula:
A= +60 (annual fee)
For card B :
APR is 24.6% or monthly 0.246/12
n = 12 and t = 1
Putting these values in formula :
Hence, as per the result from formulas, we can see that option D is correct one.