Law print the annual percentage rate

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Reference no: EM13879997

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 18.00%, with interest paid monthly, what is the card's EFF%?

a. 18.58%

b. 21.57%

c. 22.65%

d. 19.56%

e. 20.54%

Reference no: EM13879997

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