Interview Query

Interest Rates

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Let’s say we have two credit cards from two different people. The first user’s credit card has an interest rate of 5% APR on $500\$500 of monthly spending. The second user's interest rate is 1% APR on $1000\$1000 of monthly spending. Let’s say that each user pays off 60% of their statement each month.

Which user would owe more in a year?

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