Ask a New Question

Question

If a store credit account charges 1.2% interest each month, what is the APR?
14 years ago

Answers

drwls
(1.012)^12 -1 = 0.1539 = 15.39%

Most stores charge more than that.
14 years ago

Related Questions

a credit card account has $650 balance on May 5. A purchase of $321 was made on May 14 and a paymen... A credit to a liability account was posted to an owner's equity account. This would cause __________... A credit to a liability account was posted to an owners equity account. This would cause: A credit card account had a balance of $968 on May 5. A purchase of $295 was made on May 17, and a p... An online store currently charges $ 15 per month for two-day delivery service. The store is cha...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use