Madeline s credit card had an APR of 18 96 all of last year and interest was compounded periodically throughout the year Which

Question

Madeline s credit card had an APR of 18 96 all of last year and interest was compounded periodically throughout the year Which of these statements accurately describes the effective interest rate of Madeline s credit card last year OA It was less than 18 96 if interest was compounded daily but not if interest was compounded monthly B It was less than 18 96 whether interest was compounded daily or monthly OC It was greater than 18 96 whether interest was compounded daily or monthly D It was greater than 18 96 if interest was compounded daily but

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