compound interest?

0 ⤊

cola company wants to add 1.5% to the effective rate of interest on its credit card. If is currently charges a nominal rate of 7.5% compounded daily, at what value should it set the new nominal rate?

2007-03-25 16:20:35 · 2 answers · asked by salofyna 2 in Business & Finance ➔ Investing

2 answers

7.61%
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2007-03-25 16:47:11 · answer #1 · answered by SWH 6 · 0⤊ 0⤋

omg set it at 8.5% and be done fooling with it, this is Business and not homework help.

2007-03-26 01:14:11 · answer #2 · answered by netthiefx 5 · 0⤊ 0⤋