What are a effective annual b nominal annual and c nominal


A credit card company charges 18% APR compounded daily for credit purchases. What are (a) effective annual, (b) nominal annual and (c) nominal daily interest rates? Assume 365 days in a year.

Request for Solution File

Ask an Expert for Answer!!
Macroeconomics: What are a effective annual b nominal annual and c nominal
Reference No:- TGS02298518

Expected delivery within 24 Hours