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9 Your credit card statement reports an APR of ( 24 % ), with interest paid monthly. What is the card's effective annual rate? (

9 Your credit card statement reports an APR of \( 24 \% \), with interest paid monthly. What is the card's effective annual rate? \( 24 \% \) \( 28 \% \) \( 26.82 \% \) \( 25.44 \% \) \( 27.11 \% \) 2 answers

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