Answer to Question #142269 in Financial Math for Kornelia Wilk

Question #142269

Your bank is offering you an APR of 17.6%. What is the monthly percentage rate you will pay if you don’t pay the credit card in full? Round to 2 decimal places.

Expert's answer

"EAR = [1 + (APR \/ m) ^ m] - 1=[(1+(\\frac{0.176}{12})^{12}]-1=19.09"

Learn more about our help with Assignments: Math

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Nathan has a 5 year loan of $27,160 at 5.6% APR. What is the total interest paid on this loan. (roun
2. Using relevant examples, explain why the position of CEO and that of chairman should not be held by
3. a company spends 150 to purchase equipment,if the useful life of this equipment is five years and we
4. A rich uncle wants to make you a millionaire how much money must he deposit in a trust fund paying 1
5. How to find the total monthly sum? Names: Amélie and Félix Rodrigue, 24 years old. Current situati
6. Prepare the Income Statement of Waltons Manufacturers for the month ended 28 February 2021 using the
7. Find the present and future value of $1000 received every month end for 20 years if the interest rat