How do you calculate the daily periodic rate?
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You can calculate the periodic rate by dividing the APR by the number of billing periods in the year. For example, a monthly periodic rate is calculated based on the APR divided by the number of months in a year, or 12. A credit card with an APR of 12% would have a monthly periodic rate of 1%.
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Here is your answer
You can calculate the periodic rate by dividing the APR by the number of billing periods in the year. For example, a monthly periodic rate is calculated based on the APR divided by the number of months in a year, or 12. A credit card with an APR of 12% would have a monthly periodic rate of 1%.
Hope it helps
Cheers!!
Pls mark as brainliest if it helps
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