Final answer:
The APR on a credit card with a monthly charge of 2.4% would be 28.8% annually, which is calculated by multiplying the monthly rate by 12.
Step-by-step explanation:
If your credit card company charges you 2.4 percent per month, to calculate the Annual Percentage Rate (APR), you would need to convert the monthly rate to an annual rate.
Since there are 12 months in a year, you can do this by multiplying the monthly rate by 12.
The calculation would be as follows:
APR = Monthly Interest Rate × Number of Months in a Year
APR = 2.4% × 12
APR = 28.8%
Therefore, the APR on your credit card is 28.8%, rounded to two places past the decimal.