If a credit card advertises an annual interest rate of 23%, then the equivalent monthly interest rate is 1.74%
The annual interest rate = 23%
The credit card interest rate the amount you have to pay to borrow the money from them. The credit card interest rate is usually expressed in yearly rate. This is called annual percentage rate.
The monthly interest rate = ![(1+\frac{23}{100})^{(1/12)}](https://tex.z-dn.net/?f=%281%2B%5Cfrac%7B23%7D%7B100%7D%29%5E%7B%281%2F12%29%7D)
= ![(1+0.23)^{(1/12)}](https://tex.z-dn.net/?f=%281%2B0.23%29%5E%7B%281%2F12%29%7D)
= 1.0174
Then,
= (1.0174-1) × 100%
Subtract the terms first
= 0.0174 × 100%
Multiply it
= 1.74%
Hence, if a credit card advertises an annual interest rate of 23%, then the equivalent monthly interest rate is 1.74%
Learn more about annual percentage rate here
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OK.....
Your answer would be
C
or
37.5
H0P3 It H3LPS :)
The answer is 9,235 because 14,000 - 4,875 is 9,235
Answer:
-3y - 51
Step-by-step explanation:
combine like terms.
that should be right, or do you have any more info to the question?
Answer:
is you are not adding in the 24 then 40 if you are adding in the 24 then 64
Step-by-step explanation: