Register

A credit card advertises an annual interest rate of 23%. What is the equivalent monthly interest rate?

A credit card advertises an annual interest rate of 23%. What is the equivalent monthly interest rate?
63.9k views
3 votes
A credit card advertises an annual interest rate of 23%. What is the equivalent monthly interest rate?

User Julee
by
7.6k points

2 Answers

2 votes

Answer:

I =
1.02^(12t)

Trust me I just finished the lesson and my teacher even showed me the answer key

User DeniSHow
by
7.5k points
4 votes
the monthly interest rate would be 1.9%
User Lukas Lukac
by
8.1k points
← Prev Question Next Question →

Related questions

User Msal
asked Jun 3, 2024 85.9k views
A credit card advertises an annual interest rate of 23%. What is the equivalent monthly interest rate? I =
Msal asked Jun 3, 2024
by Msal
7.4k points
1 answer
2 votes
85.9k views
User Groch
asked May 14, 2017 215k views
A credit card advertises an annual interest rate of 23%. What is the equivalent monthly interest rate?
Groch asked May 14, 2017
by Groch
7.4k points
2 answers
0 votes
215k views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!