If you have a credit card with a stated interest rate of 16


If you have a credit card with a stated interest rate of 16% Annual Percentage Rate (APR), what is the actual Effective Annual Rate (EAR) if they use daily compounding (assuming 365 days/year)? What is the limit if they use continuous compounding?

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Financial Management: If you have a credit card with a stated interest rate of 16
Reference No:- TGS01362967

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