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4. There is a letter in the mail that says you are "pre-approved" for a credit card at 18% annual interest rate.
If you spent $1,000 on the card, and paid it off after one year, how much would you pay in interest? Is this a good deal? Why
or why not?

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4. There is a letter in the mail that says you are "pre-approved" for a credit card at 18% annual interest rate.
If you spent $1,000 on the card, and paid it off after one year, how much would you pay in interest? Is this a good deal? Why
or why not?

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