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A bank offers a loan that will requires you to pay 6% interest compounded monthly. Which of the following is closest to the EAR charged

A bank offers a loan that will requires you to pay 6% interest compounded monthly. Which of the following is closest to the EAR charged by the bank?

Question 1 options:
A) 5.84%
B) 6.00%
C) 6.48%
D) 6.17%
E)

72.00%

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