The annual percentage rate on Rachel’s credit card is 26.4%. What’s the monthly percentage rate on the card?
2 answers:
Answer:
<h2>2.2%</h2>Step-by-step explanation:
The annual percentage rate (APR) refers to the interest you are charged over a 12 month period. That means if we want know the fee charged monthly, we just have to divide the APR by 12. So, doing the division in this problem, we have
Therefore, the monthly percentage rate is 2.2%.
You might be interested in
Answer:
Bayes’ Theorem describes the probability of occurrence of an event related to any condition. It is also considered for the case of conditional probability.
For prove refer to the attachment.
Hope this helps you^_^
