Answer:
1.67%
Step-by-step explanation:
The APR of a card is the Annual Percentage Rate. This is the yearly rate of interest that a person has to pay on the money he or she borrowed. Interest is a price that is paid for borrowing money. In this case, if the APR is 20%, we would need to divide this number by the number of months in a year in order to get the monthly interest rate:
20 / 12 = 1.67 %
