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%

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Bitstream asked Jan 15, 2023

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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%

Mathematics
college

Bitstream asked Jan 15, 2023

by Bitstream

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27 votes

I think it is B
Hope this is right!!!

Bagaskara answered Jan 18, 2023

by Bagaskara

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11 votes

Answer:

The answer is 29.25%.

Explanation:

Sclarky answered Jan 20, 2023

by Sclarky

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