SOLUTION: Convert the following credit card rate to the APR. Nebraska, 0.02192% daily rate. (Round your answer to the nearest whole number.) This one is difficult I got 21.9 is what I thou

Question 474303: Convert the following credit card rate to the APR. Nebraska, 0.02192% daily rate. (Round your answer to the nearest whole number.)
This one is difficult I got 21.9 is what I thought it was but I was wrong! Can you help me with this portion? Thanks!
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Convert the following credit card rate to the APR. Nebraska, 0.02192% daily rate. (Round your answer to the nearest whole number.)
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APR/365 = 0.02192/100 = 0.0002192
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APR = 365*0.0002192 = 0.08 = 8%
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Cheers,
Stan H.
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