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9.) What is the effective annual rate on a 18% APR loan if interest is compounded monthly? Stumper: 10.) How much do you need to

9.) What is the effective annual rate on a 18% APR loan if interest is compounded monthly? Stumper: 10.) How much do you need to save each month for 30 years in order to retire on 145,000 a year for 20 years assuming an interest rate of 10%

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