An article in Business Week discussed the large spread between the federal funds rate and the average credit card rate. The table below is a frequency distribution of the credit card rate charged by the top 100 issuers. Credit Card Rates Credit Card Rate 20%-25% 19 % -19.9 % 18 % -18.9 % 17% -17.9 % 16 % -16.9 % Frequency 17 12 8 27 36 Copy Data Step 1 of 2: Calculate the average credit card rate charged by the top 100 issuers based on the frequency distribution. Round your answer to two decimal places.

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