a bank offered its clients a credit card which had a rate of 18.55% compounded daily. if it added 0.5% to the effective rate of interest on this card, what would be the nominal intrest rate compounded monthly?

Today, you borrowed $5,400 on a credit card that charges an interest rate of 14.2 percent, compounded monthly. How long will it take you to pay off this debt assuming that you do not charge anything else and make regular monthly payments of $110?

Your credit card has a limit of $3,000. You have charged goods totaling that amount. Your yearly APR is 12%. What is the finance charge one month?

Your credit card carries an annual rate of 21.6% APR with a minimum payment due monthly. If you don’t pay the monthly minimum amount for a year, what is its EAR?

A loan of $1500 is repaid with a check for $1575.  If the annual simple interest rate was 15%, what was the time length of the loan in years? In months?

. Calculating EAR First National Bank charges 11.4 percent compounded monthly on its business loans. First United Bank charges 11.6 percent compounded semiannually. As a potential borrower, to which bank would you go for a new loan ?

Your credit card company charges you 2.33 percent per month. What is the APR on your credit card? Enter your answer as a percentage rounded off to two decimal places. Do not enter % in the answer box.

You are considering getting a new credit card from Imperial Credit Union. The credit union has quoted you a rate of 17.7 percent, compounded monthly. What is the actual rate of interest you will be paying?

If a credit card has a 30-day billing period, a 20-day grace period, and charges an interest rate of 20%, compounded daily, how much interest will be charged on a $5000 average monthly balance which gets paid 40 days after the statement due date using the average daily balance method?

A bank offers a Certificate of Deposit (CD) at a rate of 6% compounded monthly. Another bank offers 5.90% compounded daily. Which rate is better for the investor?