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Master card and other credit card issuers must by law print

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Reference no: EM13584301

Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 18.00%, with interest paid monthly, what is the card's EFF%?

A. 18.58%

B. 19.56%

C. 20.54%

D. 21.57%

E. 22.65%

Reference no: EM13584301

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