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16) Juanita Patricia Morgans credit card company quotes her a rate of 9.9 percent. Interest is billed monthly. What is the Effective Annual Rate of

16)

Juanita Patricia Morgans credit card company quotes her a rate of 9.9 percent. Interest is billed monthly. What is the Effective Annual Rate of interest Juanita is paying?

Group of answer choices

10.41 percent

19.44 percent

12.78 percent

9.90 percent

10.36 percent

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