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8 April, 07:58

Task 2: Interest in Finance Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month equal to the interest owed. Can you figure out how much the interest rate is based on this amount?

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  1. 8 April, 10:09
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    rate = interest/$1000

    Step-by-step explanation:

    $1000 (rate) = interest

    rate = interest/$1000
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