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Pachacha [2.7K]
3 years ago
7

Susan uses a credit card with an APR of 22.2%. What is the monthly percentage rate on the card? A. 1.255% B. 1.85% C. 2.22% D. 2

2.2%
Mathematics
1 answer:
melisa1 [442]3 years ago
7 0

Answer:

B. 1.85%

Step-by-step explanation:

The APR is the annual interest rate that the bank charges. So, to calculate the monthly percentage rate, you have to divide the APR by 12 that is the number of months in a year:

APR= 22.2%

Monthly percentage rate= 22.2%/12= 1.85%

According to this, the answer is that the monthly percentage rate on the card is 1.85%.

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Answer:

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Step-by-step explanation:

We will have to convert the given question into improper fraction before solving

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3 1/9

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Since there's nothing that can be used to divide both the numerator and denominator

Then our final answer is 28/9

But in the case where the fraction can be divided we can actually solve further

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