. Davis owns a moving business and one of his trucks needs a new transmission along with some
other repairs that will cost a total of $4785. He can use his credit card with an annual rate of 15.9%
compounded daily that offers 2% cash back on all purchases made on the card or he can sign up
with a new card company that is offering a $100 rebate the first time the card is used. This card has
an annual rate of 14.2% compounded daily. Which card would be less expensive and by how much
less if he can afford to pay back $350 per month?
