Problem
A department store charges interest on any outstanding debt at the end of each month. It decides to produce a simple table of APRs for its customers, based on a variety of monthly rates. Use a spreadsheet to produce such a table for monthly interest rates of 0.5%, 0.6%, 0.7%, . . . , 3%. Plot a graph of APR against monthly rate and comment briefly on its basic shape.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.