Question
Credit card issuers must print the annual percentage rate (APR) of their cards on monthly statements. If the APR of a card is 23%, and
Credit card issuers must print the annual percentage rate (APR) of their cards on monthly statements. If the APR of a card is 23%, and interest is paid monthly, what is the effective annual interest rate of that card?
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Engineering Economy
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
15th edition
132554909, 978-0132554909
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