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3 years ago

6

Suppose your credit card issuer states that it charges a 17.00% nominal annual rate, but you must make monthly payments, which a

mounts to
monthly compounding. What is the effective annual rate?
Select the correct answer,
a. 18.19%
b. 17.99%
c. 18.39%
d. 18.79%
e. 18.59%

2 answers:

lbvjy [14]3 years ago

5 0

This is hard but the answer is A

Solnce55 [7]3 years ago

3 0

I believe that answer is a 18.19%

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