Ask Question
BusinessBusiness
18 December, 06:14

Tim's credit card has an APR of 24 percent. What is the periodic rate for this credit card?

+3
Answers (1)
  1. 18 December, 06:23
    0
    The periodic rate for this card is 12 month period.

    Explanation:

    APR is short for Annual Percentage Rate, which is the intrigue you're charged over a year time span. For example, a card with 24% APR costs 2% every month on balances that you convey from month to month.

    Whatever rate is charged on the credit card is for a period of twelve months which is a period for a year. The interest rate is the cost for using the amount of credit which has been offered by the bank to the owner of the credit card.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Tim's credit card has an APR of 24 percent. What is the periodic rate for this credit card? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The saying "leaving money on the table" is associated with a predatory pricing strategy that results in excessive seasonal discounts. a market penetration strategy when there is an opportunity for price skimming.
Answers (1)
Beta Company leased equipment from Summer Industries. The lease agreement qualifies as a finance lease and requires annual lease payments of $50,000 over an eight-year lease term (also the asset's useful life), with the first payment at January 1,
Answers (1)
Category Billions of Dollars Consumption 200 Depreciation 20 Retained earnings 12 Gross investment 30 Imports 50 Exports 40 Net foreign factor income 10 Government purchases 60 Instructions: Enter your responses rounded to the nearest whole number.
Answers (1)
You are to write a main () program in c+ + implementing the test cases that were created for task 1. Your main () program will use the files studentgrades. H, studentgrades. Cpp, student. H, and student. Cpp that are provided in the zip file.
Answers (1)
Three examples of oligopolies in the United States are industries that produce or sell A. DVDs , college textbooks, and breakfast cereal. B. automobiles , athletic footware, and cigarettes. C.
Answers (1)
New Questions in Business
Kyle and lyle want to pool their inheritance money to make a joint investment. they are young and are willing to accept moderate to high risk over a number of years. which combination of investment options best suits their needs?
Answers (1)
Paper Clip Company sells office supplies. The following information summarizes the company's operating activities for the year: Utilities for the store $ 10 comma 300 Sales commissions 10 comma 300 Sales revenue 164 comma 100 Purchases of
Answers (1)
If joe were to introduce himself as dr. early to sell to gensol, knowing that people would assume that he was a medical doctor, but never tell anyone that he was, would contracts entered into be considered to be fraudulent?
Answers (1)
Which of the following are reasons the aggregate demand curve is downward sloping? Check all that apply. 1) A higher price level decreases the real value of consumers' assets.
Answers (1)
If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years assuming a 12% annual return and quarterly compounding?
Answers (1)
Home » Business » Tim's credit card has an APR of 24 percent. What is the periodic rate for this credit card?
Sign Up Forgot Password?