rk Chapter 5 at 11:59 PM EDT gnment: Homework Chapter 5 Assignment Score: 75.00% Save Submit Assignment for Grading ions Problem 5.28 Question 15 of 20 Check My Work Click here to read the eBook: Semiannual and Other Compounding Periods Click here to read the eBook: Comparing Interest Rates NOMINAL INTEREST RATE AND EXTENDING CREDIT 3 OAs a jewelry store manager, you want to offer credit, with interest on outstanding balances paid monthly. To carry receivables, you must borrow funds from your bank at a nominal 496, monthly compounding. To offset your overhead, you want to charge your customers an EAR (or EFF%) that is 4% more than the bank is charging you, what APR rate should :: That's Incorrect Os? Round your answer to two decimal places Hide Feedback Incorrect Check My Work Icon Key