The mens warehouse charges 1.60% interet per monty on its credit cards. What effective annual rate is credit customers are actually paying? a. 19.31%
b. 20.98%
c. 19.20%
d. 722.84%

i= 0.2098 = 20.98%

Explanation:

Giving the following information:

Monthly rate (i)= 1.60% = 0.016

Number of periods (n)= 12 months

To calculate the annual real interest rate, we need to use the following formula:

i= [(1+i)^n] - 1

i= [(1 + 0.016)^12] - 1

i= 1.2098 - 1

i= 0.2098 = 20.98%

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explanation:

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi