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Posted on Oct 06, 2024

A credit card has an annual percentage rate of 12.9% and charges interest monthly. The effective annual rate on this account: A. is 12.9%. B.

A credit card has an annual percentage rate of 12.9% and charges interest monthly. The effective annual rate on this account:

A. is 12.9%.

B. will be less than 12.9%.

C. can either be less then or equal to 12.9%.

D. will be greater than 12.9%.

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