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Your company is issuing credit cards to cover expenses. They are looking at different options. They never want to pay more than 12.8% effective rate

Your company is issuing credit cards to cover expenses. They are looking at different options. They never want to pay more than 12.8% effective rate per year.

The credit card company offers two variations.

1a. What would be the APR (Nominal rate per year) if the card compounds every month?

1b. What would be the APR (Nominal rate per year) if the card compounds every 3 months?

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