A credit card bill shows a balance due of $2500 with a monthly interest rate of 1.53%. What is the APR?
A) 18.36%
B) 19.99%
C) 22.92%
D) 25.49%

Name: A credit card bill shows a balance due of $2500 with a monthly interest rate of 1.53%. What is the APR? A) 18.36% B) 19.99% C) 22.92% D) 25.49%
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Question

Quizplus · Accepted Answer

The APR can be calculated by multiplying the monthly interest rate by 12. So, 1.53% * 12 = 18.36%.

A Credit Card Bill Shows a Balance Due of $2500