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You get a new credit card from your bank. The document that comes with the card informs you that the interest rate on that card
You get a new credit card from your bank. The document that comes with the card informs you that the interest rate on that card is 28.9% APR. What is the effective annual rate you'll actually be paying? The credit card company uses monthly compounding of interest. Enter your answer as a percentage, rounded to 2 decimals, and without the percentage sign ('\%'). For example, if your answer is 0.23456 , then enter 23.46 Question 6 2 pts It is now the beginning of the year. Assume that, starting at the end of the year, you will make deposits of $192 each year into a savings account. You will make a total of 9 annual deposits. If the savings account interest rate is 7%, how much money will you have at the end of year 9 ? (In other words, what is the future value of this annuity?) Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57
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