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Economics - Financial Markets
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OpenStudy (anonymous):
one year ago Gretchen just got a new credit card that offers an introductory APR of 4.8% for the first 4 months and a standard APR of 15.6% thereafter. If interest is compounded monthly, what is the periodic interest rate during the first 4 months? A. 0.4% B. 0.3% C. 1.2% D. 1.6%
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