A credit card has a stated rate of 17.3%. What is the APR if interest is compounded daily?
17.3%
18.9%
18.5%
18.7%
A credit card has a stated rate of 17.3%. What is the APR if interest is...
a credit card has a stated rate of 17.3%.What is the APR if interest is compounded daily?
22.) A credit card has a stated interest rate of 13.3 percent. What is the APR if interest is compounded monthly? Charming Charlies charges a daily rate of 0.03 percent (.03% or .0003) on its store credit cards. What interest rate is the company required by law to report to potential customers? Charming Charlies charges a daily rate of 0.03 percent (.03% or .0003) on its store credit cards. What is the effective annual rate it charges its customers? Curtis...
4. If a credit card has an APR of 21.5%, what is the monthly interest rate?
Assume you have a credit card that has an interest rate of 24% APR, compounded monthly. Assume you have a credit balance of $5,000. What would your monthly payment need to be to pay off the balance in 3 years?
3. (8 points) A credit card offer you got in the mail advertises an APR of 18% credit card offers 18.5% APR with semiannual compounding a. (6 points) What is the actual interest rate you would be paying annars (1.e. what is the EAR?) vertises an APR of 18% with daily compounding. A second ou would be paying annually on each of the credit cards? b. (2 point) If you took one of the offers, which should you take?
What is the EAR (effective annual rate) of a credit card that has a stated rate of 14.9%? The credit card compounds interest monthly. Record your answer as a decimal, so if the answer is 16.32% record the answer as 0.1632.
10. You have been offered a credit card with an interest rate of 15% APR compounded monthly. This is equivalent to an effective annual rate (EAR) of: A. 18.39% B. 1.16% C. 16.08% D. 15.25%
3.2 If your credit card calculates interest based on 19.25% APR, compounded monthly: (a) What are your monthly interest rate and annual effective interest rate? (b) If your current outstanding balance is $3,400 and you skip payments for four months, what would be the total balance four months from now?
A credit card dharges an APR of 14.90% compounded quarterly. What is the Effective Annual Rate charged on the card? 14.90% 15.23% 15.54% 15.75%
Michael has a credit card debt of $60,000 that has a 10% APR, compounded monthly. The minimum monthly payment only requires him to pay the interest on his debt. He receives an offer for a credit card with an APR of 9% compounded monthly. If he rolls over his debt onto this card and makes the same monthly payment as before, how long will it take him to pay off his credit card debt?