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Asked by Anonymous

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

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

Most stores charge more than that.
15 years ago
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If a store credit account charges 1.2% interest each month, what is the APR?

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