Multiple Choice
A credit card account that charges interest at the rate of 1.25% per month would have an annually compounded rate of _____ and an APR of ____.
A) 16.08%; 15.00%
B) 14.55%; 16.08%
C) 12.68%; 15.00%
D) 15.00%; 14.55%
Correct Answer:
Verified
Correct Answer:
Verified
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