a credit card has a stated rate of 17.3%.What is the APR if interest is compounded...

Question

Question

a credit card has a stated rate of 17.3%.What is the APR if interest is compounded daily?

Answer 1

Answer #1

Mostly, Annual Percentage rate(APR) of credit card is a stated rate of interest. In given case, stated rate is 17.3%.

Thus, APR = 17.3%

Hope this will help, please do comment if you need any further explanation. Your feedback would be highly appreciated.

Answer 2

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