A credit card company charges interest at 2% per month. What is the annual equivalent rate correct to two decimal places?

Hello people, i have a math question that i need with, me, i will give the correct one brainiest, and for the other correct people, a and 5 stars.

Determine the fraction of total interest owed. after the fourth month of a 12-month loan: the numerator is: {(n + ) + (n + ) + (n + ) + (n + )} = , and the denominator is: {(n) + (n + 1) + + (n + )} = . therefore, the fraction is numerator/denominator (to the nearest tenth) =

Simplify using positive exponents only.