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A credit card had an APR of 25.67% all of last year and compounded interest daily. What was the credit card's effective interest rate last year? A. 29.25% B. 28.25% C. 27.3…

A credit card had an APR of 25.67% all of last year and compounded interest daily. What was the credit card's effective interest rate last year? A. 29.25% B. 28.25% C. 27.3…
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A credit card had an APR of 25.67% all of last year and compounded interest daily. What was the credit card's effective interest rate last year? A. 29.25% B. 28.25% C. 27.32% D. 28.92%

asked
User Coomie
by
8.2k points

2 Answers

4 votes

Answer:

A. 29.25

Explanation:

took the test

answered
User Amod Gokhale
by
8.5k points
3 votes

Answer:

The answer is 29.25%.



answered
User Bmueller
by
8.4k points
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