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    Exam 22: Borrowing Models
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    A Credit Card Bill Shows a Balance Due of $750
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A Credit Card Bill Shows a Balance Due of $750

Question 1

Question 1

Multiple Choice

A credit card bill shows a balance due of $750 with a minimum payment of $15 and a monthly interest rate of 1.62%. What is the APR?


A) 17.28%
B) 18.72%
C) 19.44%
D) 21.26%

Correct Answer:

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