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1 year ago

12

Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their statements. If the APR is

stated to be 20%, with interest compounded daily (365 days in a year), what is the card's effective annual interest rate?

1 answer:

4vir4ik [10]1 year ago

4 0

The effective annual interest rate would be 19.5%.

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Answer:

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Explanation:

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Deluxe 28 12

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<u>First, we need to calculate the predetermined overhead rate for each activity:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

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<u>Now, we can allocate overhead:</u>

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Answer:

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