American Express and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 11.50%, with interest paid monthly, what is the card's EFF%? Select the correct answer.   a. 9.33%     b. 3.73%     c. 6.53%     d. 17.73%     e. 12.13%

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Q: 2. Determine the future value of each 5-year inv has a 1.5% management fee. a) $2000 in an…

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Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.