Question
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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Crypto Finance Law And Regulation
Authors: Joseph Lee
1st Edition
0367086611, 978-0367086619
