Register

A credit card has an APR of 16. 42% all of last year and compounded interest daily. What was the credit cards effective interest rate last year?

A credit card has an APR of 16. 42% all of last year and compounded interest daily. What was the credit cards effective interest rate last year?
asked 138k views
1 vote
A credit card has an APR of 16. 42% all of last year and compounded interest daily. What was the credit cards effective interest rate last year?

asked
User Kyle Robinson Young
by
7.7k points

1 Answer

2 votes

The credit card last year is approximately 17.27%.

answered
User Epic Defeater
by
7.9k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

Several United States Presidents committed military troops to serve in Vietnam in an effort to a. react to violations of United States neutrality. b. support the policy of containment. c. oppose the Chinese
If a nail reacts with oxygen is it a physical property or chemical
What research Is currently being done on moon rocks?
Link Copied!