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Arnold’s credit card had an APR of 14.18% all of last year, and interest was compounded periodically throughout the year. Which of these statements accurately describes the effe…

Arnold’s credit card had an APR of 14.18% all of last year, and interest was compounded periodically throughout the year. Which of these statements accurately describes the effe…
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Arnold’s credit card had an APR of 14.18% all of last year, and interest was compounded periodically throughout the year. Which of these statements accurately describes the effective interest rate of Arnold’s credit card last year?

asked
User Sventechie
by
7.9k points

2 Answers

3 votes

Answer:

Where are the statements provided? I can help you once they are posted.

Explanation:


answered
User Alex Podworny
by
7.3k points
3 votes

Answer:

APEX - It was greater than 14.18% whether interest was compounded daily or monthly.

Explanation:

answered
User Clive
by
8.2k points
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