(Annualizing a monthly rate) You credit card statement says that you will be charged 1.05% interest a...

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(Annualizing a monthly rate) You credit card statement says that you will be charged 1.05% interest a month on unpaid balances. What is the Effective Annual Rate (EAR) being charged?

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Fundamentals of Investments Valuation and Management

ISBN: 978-0077283292

5th edition

Authors: Bradford D. Jordan, Thomas W. Miller

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Question Posted: Feb 08, 2013 02:03 AM

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(Annualizing a monthly rate) You credit card statement says that you will be charged 1.05% interest a...

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Fundamentals of Investments Valuation and Management

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