If a credit card company runs an ad quoting a nominal interest rate of 2 3 .
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If a credit card company runs an ad quoting a nominal interest rate of percent on charges. What is the effective interest rate if interest is compounded quarterly? monthly?
Related Book For
Corporate Finance A Focused Approach
ISBN: 978-1305637108
6th edition
Authors: Michael C. Ehrhardt, Eugene F. Brigham
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