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A credit card had an APR of 17.84% all of last year and compounded interest daily. What was the credit card's effective interest rate last year? A. 17.84% B. 19.37% C. 19.53% D. 11.95%
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A credit card had an APR of 17.84% all of last year and compounded interest daily. What was the credit card's effective interest rate last year?

A.
17.84%

B.
19.37%

C.
19.53%

D.
11.95%

User Yannisl
by
8.5k points

1 Answer

2 votes
A credit card had an APR of 17.84% all of last year and compounded interest daily. What was the credit card's effective interest rate last year?
A.
17.84%

B.
19.37%

C.
19.53%

D.
11.95%
User Brentg
by
7.4k points
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