Master card and other credit card issuers must by law print, Financial Management

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Master card and other credit card issuers must by law print

Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 18.00%, with interest paid monthly, what is the card's EFF%?

a. 18.58%

b. 21.57%

c. 22.65%

d. 19.56%

e. 20.54%

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Financial Management: Master card and other credit card issuers must by law print

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Financial Management: Master card and other credit card issuers must by law print

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