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Annualizing monthly rate yournbspcredit card statement says

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1. If you bought a $1,000 face value CD that matured in nine months, and wehich was advertised as payiang 9% annual interest, compounded monthly, how much would you receive when you cashed in your CD at maturity?

2. Annualizing a monthly rate) Your CREDIT CARD statement says that youwill be charged 1.05% interest a month on unpaid balances. What is the Effective Annual Rate (EAR) being charged?

Reference no: EM13476137

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