Question
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
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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Advanced Financial Accounting
Authors: Richard Lewis, David Pendrill
7th Edition
0273658492, 978-0273658498
