Interview Query

Interest Rates

Have you seen this question before?

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?

Next question: Instagram TV Success
Loading comments