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5. A typical non-bank money transfer (such as MoneyGram) cost $15. If you were to transfer $150 to someone who needs those money in a

5. A typical non-bank money transfer (such as MoneyGram) cost $15. If you were to transfer $150 to someone who needs those money in a different city every two weeks, what is the EAR for the transfer? What if you do it once a day?

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