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2. What is the APR on a credit card if you pay 1.6% a month? A. 17.50% B. 19.20% C. 16.00% D. 16.60% E. 14.77%

2. What is the APR on a credit card if you pay 1.6% a month? A. 17.50% B. 19.20% C. 16.00% D. 16.60% E. 14.77% 3. What is the effective annual rate (EAR) on your credit card from question \#2? A. 18.50% B. 17.56% C. 17.79% D. 20.98% E. 15.60%

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