Owen has a credit card with an APR of 12.5% and a balance of $1,892.32. The interest is compounded monthly. What is the monthly periodic rate? 0.104 0.0125 0.0104 0.125

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asked Jul 4, 2021 198k views

5 votes

Owen has a credit card with an APR of 12.5% and a balance of $1,892.32. The interest is compounded monthly. What is the monthly periodic rate?

0.104
0.0125
0.0104
0.125

Mathematics
college

Curious Slab asked

by Curious Slab

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2 Answers

5 votes

Answer:

0.125%

Explanation:

To find the percentage, just move the decimal place two places.

JShinigami answered Jul 5, 2021

by JShinigami

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4 votes

Answer:

Answer is c or 0.0104.

Explanation:

12.5/12= 1.04...

1.04/100= 0.0104

Kimia answered Jul 10, 2021

by Kimia

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