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A credit card issuer charges an APR of 13.59%, and its billing cycle is 30 days long. What is its periodic interest rate?

A credit card issuer charges an APR of 13.59%, and its billing cycle is 30 days long. What is its periodic interest rate?
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2 votes
A credit card issuer charges an APR of 13.59%, and its billing cycle is 30 days long. What is its periodic interest rate?

User Downeyt
by
8.0k points

2 Answers

3 votes

Answer:

Answer is ......1.12% on APEX

Explanation:


User Murat
by
8.3k points
1 vote
13.59*30/365=1.12%
......................
User Cbarrick
by
7.6k points
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