Travis just got a new credit card that offers an introductory apr of 3.6% for the first 3 months and a standard apr of 14.4% thereafter. if interest is compounded monthly, what is the periodic interest rate during the first 3 months? . a.1.6%. b.1.2%. c.0.3%. d.0.4%.

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Travis just got a new credit card that offers an introductory apr of 3.6% for the first 3 months and a standard apr of 14.4% thereafter. if interest is compounded monthly, what is the periodic interest rate during the first 3 months? . a.1.6%. b.1.2%. c.0.3%. d.0.4%.

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According to the information given above the initial APR will be lower than what was established in the first place. So you have to choose the lower rate from these options, which is C.0.3% of course