Ask Question
BusinessBusiness
12 April, 11:05

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

+1
Answers (1)
  1. 12 April, 11:25
    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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which one of the statements below is true? Deposits in transit are deducted from the balance per the bank statement, and outstanding checks are added to the balance per the bank statement during the bank reconciliation process.
Answers (1)
Which of the following is an example of unsecured debt? A. Mortgage B. Car loan C. Medical bills D. Payday loan
Answers (1)
The owners of have it your way hot dogs have decided to place an advertisement in the local minor league baseball team's program booklet. which element of the marketing mix does this represent?
Answers (1)
Sarah owns half of Smith Realty, Inc., and her brother Bill owns the other half. Sarah routinely uses the company car, which is supposed to be used only for taking clients to view property, not to run her personal errands.
Answers (2)
Which statements accurately describe the Outlook interface? Check all that apply. O Two main elements are items and folders. The content pane contains a list of items to be viewed in the reading pane.
Answers (1)
New Questions in Business
What would the production components be for the input, conversion and output for opening a summer band camp?
Answers (1)
When the price of a product is increased 10 percent, the quantity demanded decreases 15 percent. The price-elasticity of demand coefficient for this product is
Answers (1)
Which of the following would be a closed question? What interests you about this job? Why did you decide to change career fields? Where do you see yourself in five years? When did you move here?
Answers (1)
Hutchinson Corporation has zero debt - it is financed only with common equity. Its total assets are $330,000.
Answers (1)
A customer owns 210 shares of ABC common stock. ABC declares a rights offering, with the terms being that for every 20 rights tendered, a shareholder may purchase one additional share at $20 per share.
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?