Credit card A charges 16.25% interest, compounded continuously. Credit card B charges 16.3% interest, compounded monthly.

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Credit card A charges 16.25% interest, compounded continuously.

Credit card B charges 16.3% interest, compounded monthly.

What is the effective rate of credit card A? %

What is the effective rate of credit card B? %

Which one is the better credit card? Enter A or B. ?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Posted Date: Mar 25, 2024 03:05 AM

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Credit card A charges 16.25% interest, compounded continuously. Credit card B charges 16.3% interest, compounded monthly.

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Solving for Effective Interest Rates Credit Card A compounded continuously We cant directly calculat... View the full answer

Business Mathematics In Canada

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