document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1148908>Question 1148908</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose your credit card issuer states that it charges a 17.00% nominal annual rate, but you must make monthly payments, which amounts to monthly compounding. What is the effective annual rate? \r<BR>\n" );
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document.write( "A) 18.19%<BR>\n" );
document.write( "B) 17.99%<BR>\n" );
document.write( "C) 18.39%<BR>\n" );
document.write( "D) 18.79%<BR>\n" );
document.write( "E) 18.59% </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #770252 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=770252\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> this is(1+(0.17/12))^12=1.18389<BR>\n" );
document.write( "subtract original 1 and this is 18.39%<BR>\n" );
document.write( "C </SPAN>\n" );
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