The Brick store credit card quotes a rate of 1.75% per month on ...

[karlynnae]

Question 1

Which is the most attractive of the following interest rates offered on a savings account?
◦ 2.66% compounded quarterly
◦ 2.7% compounded annually
◦ 2.64% compounded monthly
◦ 2.68% compounded semiannually
◦ All of them offer the same effective rate.

Question 2

The Brick store credit card quotes a rate of 1.75% per month on the unpaid balance. Calculate the effective rate of interest being charged.
◦ 51.64%
◦ 21%
◦ 10.97%
◦ 23.14%
◦ 9.85%

[nicoleclaire22]

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[karlynnae]

Excellent

[nicoleclaire22]

Great! Please up vote