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Izzy just received a credit card offer in the mail. The credit card has an APR of 9.60%. What is the monthly interest rate that

Izzy just received a credit card offer in the mail. The credit card has an APR of 9.60%. What is the monthly interest rate that will apply to any unpaid balances on this credit card? Assume 12 equal months.

a. 0.80%.

b. 9.60%.

c. 0.48%.

d. 0.96%.

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