Your credit card statement says that the card has a 0.0562% interest per day. What is the actual annual interest rate? a) 11.6% b) 20.1% c) 14.5% d) 22.8% e) 18.3%

am. 111.

Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,400 10.4  days $222

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?

What does​ "2/10" mean, with respect to​ "credit terms of​ 2/10, n/30"?         A. A discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date.   B. Interest of 2 percent will be charged if the invoice is paid after 10 days from the date on the invoice.   C. A discount of 10 percent will be allowed if the invoice is paid within two days of the invoice date.   D. Interest of 10 percent will be charged if invoice is paid after two days.