rainforced414 rainforced414

27-05-2023
Business

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If the annual percentage rate of return (APR) on a credit card that you carry is 18 percent and if interest is compounded monthly, what is the effective, or true, annual rate (EAR) charged by the credit card company?
A. 18.00%
B. 26.82%
C. 19.56%
D. 20.00%

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