The APR of your credit card is 12% compounded monthly. a. What is the effective monthly rate? b. What is the effective weekly rate? c. What is the effective daily rate? I need help understanding on where the 0.25 comes on problem b. and where the 1/30 come from on problem c. Also how to calculate.

a. Emr = (1+)" m APR, 0.12 2. APR=12% compounded monthly APR . =(1+0:12)1 1=1% = (1+ AP b. EWR =(1+0:22, 0.25 1=0.249% = (1+48)" APR C. EDR =(1+4:12, 1/30 1=0.033% = (1+4PB) = (1+0:12, 12 1=12.682% 12 APRM -1 0.12 APRM -1 d. EAR m