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Is Paying Over Time a Smart Move?: Activity 2 of 3

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APR (annual percentage rate) means the amount of interest charged when a bill isn't paid in full.

Though APRs relate to annual fees, people pay them on a monthly basis, as 1/12 of the total APR.

The fine print of a credit card offer says that after 9 months the APR jumps to 22.5%.

At the end of the first year, what will the APR be on Carla's credit card?
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