Travis just got a new credit card that offers an introductory apr of 3.6% for the first 3 months and a standard apr of 14.4% thereafter. if interest is compounded monthly, what is the periodic interest rate during the first 3 months? . a.1.6%. b.1.2%. c.0.3%. d.0.4%.

(C) 0.3 %

Step-by-step explanation:

APR (Annual percentage rate) for first 3 months = 3.6%

APR for remaining 9 months = 14.4%

Formula for periodic interest rate = APR/n

where APR is the annual percentage rate and

n = no. of times the payment is to be made in a year

For calculating periodic interest rate for first 3 months, APR = 3.6%

n = 12 ( Since the interest is compounded monthly)

Periodic interest rate = 3.6/12

                                   = 0.3%

Hence (C) is the correct answer.

the y will be in still but your answer will be y x 3

step-by-step explanation:

jk: )