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How to convert the credit card rate of 1 1/2% to APR.

How to convert the credit card rate of 1 1/2% to APR.
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How to convert the credit card rate of 1 1/2% to APR.

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User Ekiim
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1 Answer

5 votes

The monthly rate is 1/12 of the APR. Basically, you multiply the monthly rate by 12.

12 × (1 1/2)% = 18% . . . . APR

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User JeniT
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