What Is the Effective Rate of Interest on a Credit

question 268

Short Answer

What is the effective rate of interest on a credit card that calculates interest at the rate of 1.8% per month?

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Definitions:

Biological Component

The aspect of an individual or process that is determined by biological factors, such as genes, brain function, and other physiological characteristics.

Attention-Deficit/Hyperactivity Disorder

A neurodevelopmental disorder characterized by a persistent pattern of inattention and/or hyperactivity-impulsivity that interferes with functioning or development.

U.S. School Children

A demographic group referring to children in the United States who are enrolled in elementary, middle, or high schools.

Dissociative Identity Disorder

A severe form of dissociation, a mental process which produces a lack of connection in a person's thoughts, memory, and sense of identity.