Question
The effective annual rate for a credit card that charges a 19.9% APR compounded daily is __________%. (Assume that there are 365 days in the
The effective annual rate for a credit card that charges a 19.9% APR compounded daily is __________%. (Assume that there are 365 days in the year.)
(Please round to two decimal places, write the number only without "%".i.e.if the answer is "5%",write "5.00")
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Financial Management Principles and Application
Authors: Arthur J. Keown, J. William Petty, David F. Scott, Jr.
10th edition
536514119, 536514110, 978-0536514110
