What is the daily periodic rate for a credit card with an APR of 14.99%? Leave your answer as a percent rounded to 4 decimal pla ces.
1 answer:
Answer:
the daily periodic rate is 0.0411%
Step-by-step explanation:
Given that
The Annual percentage rate is 14.99%
We need to find out the daily periodic rate for the credit card
As we know that
Daily periodic rate = annual percentage rate ÷ 365 days
= 14.99% ÷ 365 days
= 0.0411%
Hence, the daily periodic rate is 0.0411%
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