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Sophie's credit card has an APR of 19 percent. What is the periodic rate?
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Sophie's credit card has an APR of 19 percent. What is the periodic rate?

User Olasammy
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A periodic rate is the interest rate (usually APR divided by 12) one if charged for one payment period.

19/12=1.58333 therefore is 1.58%
User Brent Larsen
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Sophie's credit card has an APR of 19 percent. What is the periodic rate?
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