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Master Card and Other Credit Card Issuers Must by Law

Question 18

Multiple Choice

Master Card 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 19.25%,with interest paid monthly,what is the card's EFF%?


A) 21.04%
B) 19.57%
C) 20.20%
D) 17.68%
E) 23.15%

Correct Answer:

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