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8. Your credit card company quotes you a rate of 14%. Interest is billed monthly. What is the actual rate of interest you are paying?

8. Your credit card company quotes you a rate of 14%. Interest is billed monthly. What is the actual rate of interest you are paying? A. 13.98% B. 14.93% C. 15.48% D. 15.97% E. 16.11%

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