[Solved] Mia Received a Loan Offer in the Mail

Question 6
Multiple Choice
Question 6

Mia received a loan offer in the mail. The loan has an annual percentage rate of 24%. What is the monthly interest rate that will apply to any unpaid balances on this loan? Assume 12 equal months.

A) 24%.
B) 12%.
C) 4%.
D) 2%.

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