A credit card company charges an interest rate of 1.13% per month on the unpaid balance of

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A credit card company charges an interest rate of 1.13% per month on the unpaid balance of all accounts.

What would be the effective rate of interest per year being charged by the company?

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Seeing Through Statistics

ISBN: 978-1285050881

4th edition

Authors: Jessica M.Utts

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Posted Date: Nov 17, 2022 07:12 AM

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A credit card company charges an interest rate of 1.13% per month on the unpaid balance of

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ANSWER The effective interest rate EIR effective annual interest rate annual equivalent rate AER or ... View the full answer

Seeing Through Statistics

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