Sophias credit card has an apr of 2087 and it just changed


Sophia's credit card has an APR of 20.87%, and it just changed its compounding period from monthly to daily. What will happen to the effective interest rate charged to Sophia?

Request for Solution File

Ask an Expert for Answer!!
Finance Basics: Sophias credit card has an apr of 2087 and it just changed
Reference No:- TGS0642043

Expected delivery within 24 Hours