What is the periodic rate that will be applied to balance

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Reference no: EM131577537

Louise has just received her credit card bill. The APR on this account is 13.9% applied over 12 periods. Her account balance is $3,633.00 and the statement lists her average daily balance as $3,545.00.

What is the periodic rate that will be applied to Louise's balance? Record your answer to 4 decimal spaces.

Here are a couple of things to think about.

Periodic rate is the APR/# of periods. She is being changed the APR over 12 periods.

Remember to record your answer to 4 decimal spaces (e.g., .0456)

Reference no: EM131577537

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