5. Credit card issuers must by law print the Annua…

5. Credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 18.00%, with interest paid monthly, what is the card’s EFF%? a. 18.58% b. 19.56% c. 20.54% d. 21.57% e. 22.65%