Asked by sarah

A credit card had an APR of 23.51% all of last year and compounded interest daily. What was the credit card's effective interest rate(EIR) last year? Show your work.

Answers

Answered by Scott
{[1 + (.2351 / 365)]^365} - 1
Answered by Q
A credit card had an APR of 14.86% all of last year, and compounded interest daily. What was the credit cards effective interest rate last year
There are no AI answers yet. The ability to request AI answers is coming soon!

Related Questions