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What would be the apr if the card compounds monthly

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Reference no: EM132580033

You are looking for credit cards. You never want to pay more than 12.5% effective rate per year. The card company offers two variations

Question 1: What would be the APR (Nominal rate per year) if the card compounds every quarter?

Question 2: What would be the APR (Nominal rate per year) if the card compounds monthly?

Reference no: EM132580033

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