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A credit card issuer charges an APR of 13.99%, and its billing cycle is 30 days long. What is its periodic interest rate?

A. 14.37%
B. 1.15%
C. 0.97%
D. 11.43%

1 Answer

4 votes

A credit card issuer charges an APR of 13.99%, and its billing cycle is 30 days long its periodic interest rate would be 1.15%. The correct answer between all the choices given is the second choice or letter B. I am hoping that this answer has satisfied your query about and it will be able to help you, and if you’d like, feel free to ask another question.

User Tamuhey
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