What is the card eff

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Reference no: EM132696246

Problem 1: American Express 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 17.50%, with interest paid monthly, what is the card's EFF%?

Select the correct answer.

a. 18.97%
b. 12.07%
c. 14.37%
d. 16.67%
e. 21.27%

Reference no: EM132696246

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