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i n (1 + i/n)^n - 1

Nominal Compounding
Interest Compounding Periods Per Year Effective Rate
MasterCard 19.90% Monthly 12 21.819222%
Visa 19.60% Daily (360 d/y) 360 21.646202%
American Exp 20.50% Semi-monthly 24 22.645689%

The best choice with lowest effective rate is Visa


PV 5000
n 2
i 3%/2

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