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What is the card EFF

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Question - American Express 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 17.50%, with interest paid monthly, what is the card's EFF%?

a. 18.97%

b. 12.07%

c. 14.37%

d. 16.67%

e. 21.27%

Reference no: EM132743999

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