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Your credit card company quotes a lending rate of 18% APR. How much is the EAR if the interest compounds monthly? A. 1.5% B. 19.6%
Your credit card company quotes a lending rate of 18% APR. How much is the EAR if the interest compounds monthly?
| A. | 1.5% | |
| B. | 19.6% | |
| C. | 15.7% | |
| D. | 18.0% |
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The Economics Of Money Banking And Financial Markets
Authors: Frederic Mishkin
13th Global Edition
1292409487, 978-1292409481
