Register
A credit card had an APR of 25.67% all of last year and compounded interest daily. What was the credit card's effective interest rate last year? a 28.25% b 29.25% c 28.92% d 27.32%
69.3k views
20 votes
A credit card had an APR of 25.67% all of last year and compounded interest daily. What was the credit card's effective interest rate last year?

a
28.25%
b
29.25%
c
28.92%
d
27.32%

User Jacob Aloysious
by
7.0k points

2 Answers

5 votes
I think it is B
Hope this is right!!!
User Prakash Pazhanisamy
by
7.6k points
9 votes

Answer:

The answer is 29.25%.

Explanation:

User Fruny
by
7.1k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

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
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!