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Please get back to me soon. Suppose your credit card issuer states that it charges a 14.295% nominal annual rate, but you must make monthly

Please get back to me soon.

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Suppose your credit card issuer states that it charges a 14.295% nominal annual rate, but you must make monthly payments, which amounts to monthly compounding. What is the effective annual rate? O 15.27% 0 16.08% 0 16.88% O 17.72% 18.61% Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 20.59%, with interest paid monthly, what is the card's EFF%? O 18.58% O 19.56% 20.54% O 21.57% O 22.65%

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