What is the cards effective annual rate

Assignment Help Financial Management
Reference no: EM131456273

Master Card and other credit card issuers must print the nominal annual rate (APR) on their monthly statements. If the APR is stated as 21.55%, but interest is compounded monthly, what is the card's effective annual rate (EFF%)? Your answer should be between 16.82 and 29.74, rounded to 2 decimal places, with no special characters.

Reference no: EM131456273

Questions Cloud

How much can she spend in each year after she retires : Ashley turned 30 today, and she is planning to save $3,000 per year for retirement, how much can she spend in each year after she retires?
What is the remaining balance on mortgage after five years : What is the remaining balance on the mortgage after 5 years?
What will her monthly payments be : Chelsea is buying her first condo for $200,000. and will make a $15,000 down payment. What will her monthly payments be?
What is the present value of the cash flow stream : what is the present value of the cash flow stream?
What is the cards effective annual rate : If the APR is stated as 21.55%, but interest is compounded monthly, what is the card's effective annual rate (EFF%)?
What rate of return would you earn if you bought this asset : What rate of return would you earn if you bought this asset?
When would trail pricing be an effective pricing strategy : For new product, when is skimming pricing more appropriate, when is penetration pricing best strategy? when would trail pricing be an effective pricing strategy
How many dollars of new funds are needed to finance growth : Owen’s Electronics has nine operating plants in seven southwestern states. determine how many dollars of new funds are needed to finance the growth.
What is your rate of return on the fund based : What is your rate of return on the fund based on the $1,000 you invested if you sell your shares at the end of the year?

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd