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Title: The effective annual rate for a credit card that charges a 19.9% APR compounded daily is closest ... Post by: Memphic on Nov 19, 2017 The effective annual rate for a credit card that charges a 19.9% APR compounded daily is closest to:
A) 18.15% B) 19.9% C) 22.0% D) 24.2% Title: Re: The effective annual rate for a credit card that charges a 19.9% APR compounded daily is closest ... Post by: anicid on Nov 19, 2017 C
Explanation: C) EAR = (1 + .199/365)365 - 1 = .220116 |