Ask Question
16 April, 10:13

A credit card advertises an annual interest rate of 23%.

+4
Answers (1)
  1. 16 April, 10:26
    0
    A credit card company needs to specify the annual percentage rate which it is supposed to charge to its customers for loan taken. The company may advertise any monthly interest rate but definitely has to specify what it wants to charge annually. So an annual 23% means (23/12) = 1.92% interest monthly.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A credit card advertises an annual interest rate of 23%. ...” 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