Question

Sabrina has a credit card with an APR of 22.7%. What is her monthly periodic

rate? Round to the nearest ten-thousandth (0.0001) if necessary.

I know the answer is 1.8917% but what are the steps to get that?

Answer 1

Explanation:

Step 1: Circle the place value of the digit to be rounded. This is the rounding digit. Step 2: Look to the neighboring digit on the right. Step 3: a) If the neighboring digit is less than five (0 - 4), keep the rounding digit the same.