Jesseniapacheco31
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Macmillan Learning

I received an offer for a credit card with 0% fixed APR for the first 12 months, after which the card would have one of several
rates depending on credit history. The highest rate was a 22.74% APR (and the company reserves the right to change the APR "at any time for any reason").

(a) What is the corresponding daily interest rate for the 22.74% APR?
(Round your answer to three decimal places.)

The corresponding daily interest rate would be

(b) What is the EAR?

(Round your answer to three decimal places.)

The effective annual rate would be

Macmillan Learning I received an offer for a credit card with 0 fixed APR for the first 12 months after which the card would have one of several rates dependin class=

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