An oil company wants to drop the effective rate of interest on its credit card by 3%.

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An oil company wants to drop the effective rate of interest on its credit card by 3%. If it currently charges a periodic rate of 1.7% per month, at what amount should it set the periodic rate?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:34 AM

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An oil company wants to drop the effective rate of interest on its credit card by 3%.

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Business Mathematics In Canada

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