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2 2. What is the effective annual rate on a loan with monthly payments and a 10% APR? 3. If you contribute $100 every month

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2. What is the effective annual rate on a loan with monthly payments and a 10% APR? 3. If you contribute $100 every month for 20 years to a retirement plan and are then able to increase your contribution to $200 a month for another 20 years at a 6% interest rate, what is the total value of your plan in 40 years? 245/252

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