Convert the credit card rate to the APR.
Ohio, 0.02192% daily rate.

A) 4%
B) 7%
C) 6%
D) 5%
E) 8%

Name: Convert the credit card rate to the APR. Ohio, 0.02192% daily rate. A) 4% B) 7% C) 6% D) 5% E) 8%
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Question

Convert the credit card rate to the APR. ​
Ohio, 0.02192% daily rate.
​
A) 4%
B) 7%
C) 6%
D) 5%
E) 8%

Quizplus · Accepted Answer

To convert a daily interest rate to an annual percentage rate (APR), you multiply the daily rate by the number of days in a year. Given a daily rate of 0.02192%, the APR is 0.02192% * 365 = 8%.

Convert the Credit Card Rate to the APR