Your Credit Card Has a Quoted Rate of 18

question 5

Multiple Choice

Your credit card has a quoted rate of 18.5 percent compounded daily.What is the effective annual rate? (Assume 360 days a year.)

• A) 66.60%
• B) 20.32%
• C) 51.39%
• D) 18.50%

---

Definitions:

Stressful Situations

Refers to scenarios or conditions perceived as threatening or demanding, which often trigger physical and emotional responses.

Assertiveness Training

Psychoeducational programs designed to help individuals learn to communicate their needs and desires more effectively and respectfully.

Alcoholics Anonymous

A fellowship of individuals who share their experience, strength, and hope with each other to solve their common problem and help others to recover from alcoholism.

Interpersonal Therapy

A form of psychotherapy focused on improving interpersonal relationships and resolving mood disorders by addressing communication patterns and role disputes.