You are paying an effective annual rate of 1450 percent on


You are paying an effective annual rate of 14.50 percent on your credit card. The interest is compounded monthly. What is the annual percentage rate on your account?

15.96 percent

14.50 percent

13.62 percent

12.78 percent

12.05 percent

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Financial Management: You are paying an effective annual rate of 1450 percent on
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