If the apr is stated as 2155 but interest is compounded, Financial Management

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If the apr is stated as 2155 but interest is compounded

Master Card and other credit card issuers must print the nominal annual rate (APR) on their monthly statements. If the APR is stated as 21.55%, but interest is compounded monthly, what is the card's effective annual rate (EFF%)? Your answer should be between 16.82 and 29.74, rounded to 2 decimal places, with no special characters.

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Financial Management: If the apr is stated as 2155 but interest is compounded

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Financial Management: If the apr is stated as 2155 but interest is compounded

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