Convert the following credit card rate to the APR.
Oregon, 1 3/4% per month ,
= 1.75%?
1.75 * 12 = ?
That will give you the annual percentage rate.
21?
Right. The apr is 21%
To convert a monthly credit card rate to an Annual Percentage Rate (APR), you need to multiply the monthly rate by 12. In this case, the monthly rate is 1 3/4%, which can also be written as 1.75%.
To calculate the APR, multiply the monthly rate by 12:
APR = Monthly rate * 12
APR = 1.75% * 12
APR = 21%
Therefore, the APR for the given credit card rate of 1 3/4% per month in Oregon is 21%.