Your credit card company charges you 1.23 percent per month. what is the apr on your credit card?

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A charge card is a type of your credit card company charges you 1.23 percent per month. what is the apr on your credit card? that charges no interest but requires that you pay the statement balance in full, usually monthly. They have an uncapped spending limit with generous reward benefits for the cardholder, but typically charge a high annual fee.

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13/09/2020  · 100% (1 rating) APR = Interest …. View the full answer. Transcribed image text: Your credit card company charges you 1.23 percent per month. What is the APR on your credit card? Multiple Choice 16.59% 15.80% 14.76% 14.02% 14.02% 15.28%. Previous question Next question.

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25/10/2018  · Your credit card company charges you 1.23 percent per month. What is the EAR on your credit card? A. 15.80%. B. 15.28%. C. 14.76%. D. 16.59%. E. 14.02%. Who are the experts? Experts are tested by Chegg as specialists in their subject area.

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25/10/2018  · Finance questions and answers. Your credit card company charges you 1.23 percent per month. What is the APR on your credit card? A. 15.28% B. 16.59% C. 14.02% D. 14.76% E. 15.80%. Question: Your credit card company charges you 1.23 percent per month.

Your credit card company charges you 165 percent …

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88. Your credit card company charges you 1.65 percent interest per month. What is the annual percentage rate on your account? A. 18.95 percent B. 19.80 percent C. 20.90 percent D. 21.25 percent E. 21.70 percent APR = 0.0165 × 12 = 19.80 percent AACSB: Analytic Blooms: Apply Difficulty: 1 Easy Learning Objective: 06-04 How interest rates are …

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Your credit card company charges you 1.18 percent per month. What is the annual percentage rate on your account? APR= period rate * # of periods per year APR= 1.18 *12 APR=14.16. You are paying an effective annual rate of 14.10 percent on your credit card. The interest is compounded monthly. What is the annual percentage rate on your account? EAR …

FAQ your credit card company charges you 1.23 percent per month. what is the apr on your credit card?

What is the Annual Percentage Rate on my credit card?

Your credit card company charges you 1.18 percent per month. What is the annual percentage rate on your account? You are paying an effective annual rate of 14.10 percent on your credit card. The interest is compounded monthly.

How much does a credit card company charge per charge?

On average credit card, companies charge between 15 and 20 percent on all balances that carry over and are not paid off. That 15 to 20 percent is not a one-time fee per charge, it is an ongoing charge for the balance each month.

What determines the APR on a credit card?

The APRs of your credit cards are often set based on your credit history. Generally, a strong credit history can help you score a low APR, while poor or average credit may leave you with a higher interest rate (though there’s no guarantee either way).

What is 15 percent interest on a credit card?

That 15 to 20 percent is not a one-time fee per charge, it is an ongoing charge for the balance each month. So if you were to charge $2,500 to your credit card and only pay the minimum payment of $50, at 15 percent interest it would take you six and a half years to pay this debt off.

How Does Credit Card APR Work?

WHEN and HOW MUCH to Pay on Your Credit Card to Avoid Interest!

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