Qusetion: A is offered a credit card (CARD A) that has an APR of 19.99%. B is offered a card (CARD B) that has 15.99% but charges $95 annually.
a) If they both plan to carry a balance forward of about $500 each month. Which person is offered a better card? Show work.
b) If they both pay off their statement balance each month, which would be best and why?