Question
Your monthly statement from your bank credit card shows that the monthly rate of interest is 1.2%. What is the annual effective rate of interest
Your monthly statement from your bank credit card shows that the monthly rate of interest is 1.2%. What is the annual effective rate of interest you are being charged on your credit card if it's compounded annually?
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Handbook Of The Economics Of Finance Volume 2A
Authors: George M. Constantinides, Milton Harris, Rene M. Stulz
1st Edition
0444535942, 978-0444535948
