Corporate Finance Quiz 21.pdf - 100. Award: 1.00 point Your...

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100.Award:1.00 pointYour credit card company charges you 1.15 percent interest per month. What is the APR?18.92 percent13.80 percent15.95 percent17.25 percent14.71 percentAPR = .0115(12)APR = .1380, or 13.80%
ReferencesMultiple ChoiceLearning Objective:06-04 Show howinterest rates arequoted (andmisquoted).Difficulty: 2IntermediateSection: 6.3Comparing Rates:The Effect ofCompounding
101.Award:1.00 pointWhat is the APR on a loan with a stated rate of 2.35 percent per quarter?
ReferencesMultiple ChoiceLearning Objective:06-04 Show howinterest rates arequoted (andmisquoted).Difficulty: 2IntermediateSection: 6.3Comparing Rates:The Effect ofCompounding
102.Award:1.00 pointYou are paying an EAR of 16.78 percent on your credit card. The interest is compounded monthly.
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Annual Percentage Rate, Corporate Finance, Interest, 8 90 percent, 9 40 percent, 9 40, 7 87, 8 69 percent

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