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A credit card has an annual percentage rate (APR) of 12.0% and charges interest monthly. Which of the following statements is true? Group of answer

A credit card has an annual percentage rate (APR) of 12.0% and charges interest monthly. Which of the following statements is true?

Group of answer choices

The Periodic Rate is equal to 12%.

The EAR on this card is greater than if the credit card charged interest weekly.

The Periodic Rate is equal to 1.00%.

The interest rate charged each month is greater than 1.00% due to the monthly compounding.

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