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Suppose your credit card issuer states that it charges a 15% nominal annual rate, but you must make monthly payments, which amount to monthly compounding.
Suppose your credit card issuer states that it charges a 15% nominal annual rate, but you must make monthly payments, which amount to monthly compounding. What is the effective annual rate (EFF%)
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International Finance Transactions Policy And Regulation
Authors: Hal Scott, Anna Gelpern
20th Edition
1609303164, 978-1609303167
