TheForestCave9764 TheForestCave9764

26-04-2022
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Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their statements. If the APR is stated to be 20%, with interest compounded daily (365 days in a year), what is the card's effective annual interest rate?

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aimanshahzadi73 aimanshahzadi73

27-04-2022

The effective annual interest rate would be 19.5%.

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