Question: Answer question 3 based upon the following information You credit card company charges an annual percentage rate (APR) of 18% with monthly compounding. Q3. Your

Answer question 3 based upon the following information You credit card company charges an annual percentage rate (APR) of 18% with monthly compounding. Q3. Your effective annual borrowing cost (APY) is closest to a. 19.6%. 20.5%. 21.9%. 23.1%. b. d

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