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A credit card has an annual percentage rate of 15.55 percent and charges interest monthly. The effective annual rate on this account: A credit card

A credit card has an annual percentage rate of 15.55 percent and charges interest monthly. The effective annual rate on this account: A credit card has an annual percentage rate of 15.55 percent and charges interest monthly. The effective annual rate on this account: can either be greater than or equal to 15.55 percent. is 15.55 percent. can either be less than or equal to 15.55 percent. will be less than 15.55 percent. will be greater than 15.55 percent.

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