Author Question: Which of the following best describes how to calculate a monthly periodic rate? A) Divide the APR by ... (Read 300 times)

theo · **on:** Jun 24, 2018

Which of the following best describes how to calculate a monthly periodic rate?
A) Divide the APR by twelve and write as a decimal.
B) Multiply the finance charge by twelve and write as a decimal.
C) Multiply the APR by the number of days in the month and write as a decimal.
D) Multiply the APR by twelve and write as a decimal.

Question 2

Which of the following is NOT considered a transaction on a credit card statement?
A) payments made
B) fees charged by the card company
C) the statement closing date
D) customer purchases and returns