Problemyou are paying an effective annual rate of 1450, Ask an Expert

Finance

Problem:

You are paying an effective annual rate of 14.50 percent on your credit card. The interest is compounded monthly.

Required:

Question: What is the annual percentage rate on your account?

15.96 percent
14.50 percent
13.62 percent
12.78 percent
12.05 percent

Note: Provide support for your rationale.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91163381

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