Question
7. A credit card company runs an ad quoting a nominal interest rate of 29 percent on charges. What is the effective interest rate if
7. A credit card company runs an ad quoting a nominal interest rate of 29 percent on charges. What is the effective interest rate if interest is compounded quarterly? monthly? The effective annual rate is ________if compounded quarterly and _______ if compounded monthly
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Public Finance And Public Policy
Authors: Arye L. Hillman
2nd Edition
0521738059, 978-0521738057
