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harina [27]
3 years ago
7

Jays credit card had an apt of 16.53% all of last year, and interest was compounded periodically throughout the year. Which of t

hese statements accurately describes the effective interest rate of jays credit card last year?
Mathematics
1 answer:
oee [108]3 years ago
3 0
The formula is
Effective interest rate = (1 + i/n)^n - 1
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