Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 24.50%, with interest paid monthly, what is the card's EFF%?
a) 23.06%
b) 28.82%
c) 27.45%
d) 32.66%
e) 34.03%

Question

17-07-2024
Mathematics

Answered

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Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 24.50%, with interest paid monthly, what is the card's EFF%?
a) 23.06%
b) 28.82%
c) 27.45%
d) 32.66%
e) 34.03%

Sagot :

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Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 24.50%, with interest paid monthly, what is the card's EFF%?a) 23.06%b) 28.82%c) 27.45%d) 32.66%e) 34.03%

Sagot :

Other Questions

Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 24.50%, with interest paid monthly, what is the card's EFF%?
a) 23.06%
b) 28.82%
c) 27.45%
d) 32.66%
e) 34.03%