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Question 15 Not yet answered Marked out of 1.00 P Flag question MasterCard charges interest on a monthly basis and is currently offering customers

Question 15 Not yet answered Marked out of 1.00 P Flag question MasterCard charges interest on a monthly basis and is currently offering customers a credit card with a 11.6% per annum nominal interest rate. What is the effective annual rate being charged? (Please type your answer in decimals e.g. 10.1% should be shown as 0.101) Answer:

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