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A new credit card company released a card that charges interest at a rate of 1.85% p.m. Calculate the nominal interest rate compounded monthly for

A new credit card company released a card that charges interest at a rate of 1.85% p.m. Calculate the nominal interest rate compounded monthly for the credit card. a. 18.5% b. 22.2% c. 28.5% d. 16.2%

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