RWJ 7th Edition Solutions - Colby College

Note that we do not need to calculate the time necessary to repay your current credit card with a fee since no fee will be incurred. The time to repay the new card with a transfer fee is: With fee and annual rate = 9.20%: PVA = $10,200 = $200{ [1 – (1/1.0076667)t ] / .0076667 … ................
................