Multiple Choice
American Express and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements.If the APR is stated to be 18.00%, with interest paid monthly, what is the card's EFF%?
A) 18.58%
B) 19.56%
C) 20.54%
D) 21.57%
E) 22.65%
Correct Answer:
Verified
Correct Answer:
Verified
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