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Suppose That You Just Paid $9

Question 36

Multiple Choice

Suppose that you just paid $9.91 monthly interest compounded daily on an outstanding balance of Suppose that you just paid $9.91 monthly interest compounded daily on an outstanding balance of on your credit card. What is the nominal annual interest rate in this case? A) 9% B) 10% C) 11% D) 12% E) 13% on your credit card. What is the nominal annual interest rate in this case?


A) 9%
B) 10%
C) 11%
D) 12%
E) 13%

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