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1. Assume that you pay 1% interest, on a monthly basis, towards a loan. What is the annual percentage rate (APR)? A) 6.86% B) 12.00%

1. Assume that you pay 1% interest, on a monthly basis, towards a loan. What is the annual percentage rate (APR)?

A) 6.86%

B) 12.00%

C) 12.99%

2. What is the recommended savings rate for individuals under the age of 30?

A) 12%

B) 20%

C) 10%

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