3poils
kim's credit card has a 25% apr. find the periodic interest rate from june 3
to july 2. round your answer to two decimal places.
o
a. 2.12%
b. 2.30%
o c. 6.80%
o d. 2.05%
submit

The periodic interest rate from June 3  to July 2 will be 2.08%

Step-by-step explanation:

Given:

Annual percentage rate  = 25%

Time period  = June 3  to July 2

To Find:

Periodic interest rate  =?

Solution:

The periodic interest rate r is calculated using the following formula:

Where,

i = nominal annual rate

n = number of payments per year i.e., 12 for monthly payment, 1 for yearly payment and so on.

m = number of compounding periods per year

The period interest rate per payment is integral to the calculation of annuity instruments including loans and investments.

Now substituting the values we get

2x3 – 6x2 – 14x + 24 square centimeters

if i'm wrong i'm sorry : )

about 168 miles

step-by-step explanation: