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MOV ng to another question will save this response. Question 4 The monthly charge on a credit card is 0.9%, what is the effective interest rate per year? O 11.00% O 11.15% 0 11.25% O 11.35%
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Answer #1

effective interest rate per year

=((1+monthly rate)^(number of months in a year))-1

=(1+0.9%)^12-1

=11.35%

the above is the answer

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