A credit card advertises that its nominal annual interest rate is 23% per year and that it compounds its interest daily.
Posted: Thu May 19, 2022 9:14 am
A credit card advertises that its nominal annual interest rate
is 23% per year and that it compounds its interest daily. What is
the effective annual interest rate (APY) for this credit
card?
is 23% per year and that it compounds its interest daily. What is
the effective annual interest rate (APY) for this credit
card?