A credit card company advertises an APR of 12.2% , compounded daily. What is the effective interest rate? Round your answer to two decimal places

12.97%

Step-by-step explanation:

The effective interest rate is the interest rate you actually pay when you take into account the compounding effect. The formula you have to use to calculate the effective interest rate is:

Effective interest rate=(1+i/n)^n-1

i: interest rate

n: number of compounded periods

Effective interest rate=(1+(0.122/365))^365-1

Effective interest rate=1.1297-1

Effective interest rate=0.1297→12.97%

According to this, the answer is that the effective interest rate is 12.97%.

set each factor equal to 0

4x-3 = 0

2x-1 = 0

solve for x.

4x-3=0

4x=3

x= 3/4

solve for x. 

2x-1= 0

2x= 1

x= 1/2

your answer should be 1/2 is less than or equal to x and 3/4 is greater than or equal to x

the answer is:

the correct option:

b.

to solve the problem, we need to remember how to operate to simplify exponential expressions using the logarithms.

we are given the equation:

then, using placing logarith with base 7 on both sides of the equation, we have:

so, rounding the obtained result to two decimal places (nearest hundreth), we have:

hence, we have that the correct option:

b.

have a nice day!