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31 May, 15:53

Sophie's credit card has an APR of 19 percent. What is the periodic rate?

a. 1.58%

b ...79%

c. 19%

d. 2.28%

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Answers (1)
  1. 31 May, 18:55
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    A periodic rate is the interest rate (usually APR divided by 12) one if charged for one payment period.

    19/12=1.58333 therefore is 1.58%
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