britneymidkiff130237 britneymidkiff130237

22-02-2021
Mathematics

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James recently got a credit card. The APR on the card is 19.8%. What is the monthly interest rate?
A. 1.65%
B. 7.8%
C. 12%
D. 19.8%

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movincent14 movincent14

01-03-2021

The answer is A.

Step-by-step explanation:

ARP means Annual Percentage Rate. Annual means yearly and there are 12 months in a year so divide 19.8 by 12 and you get 1.65.

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