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5. A credit card advertises a nominal rate of 18% compounded monthly. If no monthly payments are made, the effective annual interest rate is most

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5. A credit card advertises a nominal rate of 18% compounded monthly. If no monthly payments are made, the effective annual interest rate is most nearly: A) 18.00% B) 18.25% C) 18.75% D) 19.56%

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