Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you receive a credit card offer with terms of 5.44

You receive a credit card offer with terms of 5.44% interest. When you read the...

60.1K

Verified Solution

Question

Finance

image

You receive a credit card offer with terms of 5.44% interest. When you read the fine print, however, you see that the interest is not the annual percentage rate (APR), but the amount being charged every quarter. What is the APR (also known as the nominal interest rate)? Enter your answer as the percentage rate (without the percentage sign). For example, if you calculate 12.34%, enter it as 12.34 Round your answer to two decimal places. Do not use a percentage ("%") sign

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

A stockbroker has a large number of clients. The proportion of clients with whom she does...

Biology
1.2K views

What you would expect to observeot observe if the following modifications to the Lab 4...

Physics
1.2K views

R A solenoid of inductance L and resistance is connected in parallel to a resistance...

Basic Math
1.2K views

Systolic blood pressure is the higher number in a blood pressure reading. It is measured...

Statistics
1.2K views

Provide an appropriate response If an individual is selected at random what is the probability...

Calculus
1.2K views

Solve the system of equations graphically If the s ordered pair as a solution state...

Calculus
1.2K views

D D a ten times the base unit b one tenth of the base u...

Accounting
1.2K views

Given the following data, calculate product cost per unit under absorption costing. Direct labor Direct...

Accounting
1.2K views

A classification of costs that is useful for assigning responsibility to and evaluating managers is:...

Accounting
1.2K views

9) Higher fixed costs decrease the total contribution margin required to break even. A. True...

Finance
1.2K views

The common stock of Big Marvin Treats has a total return of 10.25 percent, a...

Finance
1.2K views

50. A company has the following account balances. What's the operating margin? Net sales $289,000...