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Your Axess credit card charges a monthly interest of 2,10% if you do not pay your credit card debt on time. You expect annual inflation
Your Axess credit card charges a monthly interest of 2,10% if you do not pay your credit card debt on time. You expect annual inflation over the coming year as 35 %. What is the annual percentage rate (APR), effective annual rate (EAR) and real rate of your borrowing if you do not pay your credit card debt on time?
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