Question: A credit card charges a 18% nominal rate compounding annually. What is this card's effective annual rate? Select one: a. 18% b. 18.52% X c.

A credit card charges a 18% nominal rate compounding annually. What is this card's effective annual rate? Select one: a. 18% b. 18.52% X c. 19.00% d. 19.56%

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