Ask Question
MathematicsMathematics
8 November, 16:49

Susan uses a credit card with an APR of 22.2%. What is the monthly percentage rate on the card?

+4
Answers (1)
  1. 8 November, 16:56
    0
    1.85 %

    Explanation:

    APR refers to the "Annual Percentage Rate." This refers to the rate that is being charged to the borrower on a yearly basis.

    It is very easy to get the monthly percentage rate once you know the APR. All you have to do is to divide the APR by the total number of months.

    In the situation above, we just have to divide the APR of 22.2% by 12 (number of months on one year).

    22.2% : 12 months = 1.85 % per month (this is the monthly percentage rate on the card. Thus, this is the answer.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Susan uses a credit card with an APR of 22.2%. What is the monthly percentage rate on the card? ...” in 📗 Mathematics 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
1. SAT scores were originally scaled so that the scores for each section were approximately normally distributed with a mean of 500 and a standard deviation of 100.
Answers (1)
The ratio of lime juice to soy sauce in a salad dressing is 7:6. The total of both ingredients is 39 tablespoons. How many tablespoons of each ingredient are used?
Answers (1)
If m (x) = (x+5) / (x-1), which function has the same domain as (m•n) (x) ? 1. h (x) = (x+5) / 1) 2. h (x) = 11 / (x-1) 3. h (x) = 11 / (x-4) 4. h (x) = 11 / (x-3)
Answers (1)
A taxi charges a flat fee of 4 dollars plus 2.25 per mile how much will it cost to travel 8.7 miles
Answers (1)
A new school randomly assigns a six-character student code to every prospective student. The school uses the characters 1, 2, 3, 4, 5, X, Y, and Z.
Answers (1)
New Questions in Mathematics
Is the gcf of two even numbers always even?
Answers (2)
What is x=1-4y in slope - intercept form
Answers (1)
Cory is making a poster of common geometric shapes. He draws a square with a side of length 4 3 cm, an equilateral triangle with a height of cm, a circle with a circumference of 8π cm, a rectangle with length cm, and a parallelogram with base 3.
Answers (1)
What is the worst thing to make in pottery class
Answers (2)
Blank is 5 times as much as 27
Answers (1)
Home » Mathematics » Susan uses a credit card with an APR of 22.2%. What is the monthly percentage rate on the card?
Sign Up Forgot Password?