Description of this paper

(Annualizing a monthly rate) You credit card state...

Description

Solution


Question

(Annualizing a monthly rate) You credit card statement says that you will be charged 1.05% interest a month on unpaid balances. What is the Effective Annual Rate (EAR) being charged?

 

Paper#3852 | Written in 18-Jul-2015

Price : $25
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