Question
Hello, I'm having trouble figuring this out. Can you help me? Suppose your credit card issuer states that it charges a 15% nominal annual rate,
Hello, I'm having trouble figuring this out. Can you help me?
Suppose your credit card issuer states that it charges a 15% nominal annual rate, but you must make monthly payments, which amount tomonthlycompounding.What is the effective annual rate (EFF%)?
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
11th edition
9781259278617, 77861647, 1259278611, 978-0077861643
