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19 January, 19:02

Travis just got a new credit card that offers an introductory APR of 3.6% for the first 3 months and a standard APR of 14.4% thereafter. If interest is compounded monthly, what is the periodic interest rate during the first 3 months?. A. 1.6%. B. 1.2%. C. 0.3%. D. 0.4%.

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  1. 19 January, 20:34
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    According to the information given above t he introductory APR is going to be lower than this established in the first time. So you need to choose the lower rate from these options, and that's obviously C. 0.3%
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Home » Mathematics » Travis just got a new credit card that offers an introductory APR of 3.6% for the first 3 months and a standard APR of 14.4% thereafter. If interest is compounded monthly, what is the periodic interest rate during the first 3 months?. A. 1.6%. B. 1.
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