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A bank offers a loan that will requires you to pay 8% interest compounded monthly. Which of the following is closest to the EAR charged

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A bank offers a loan that will requires you to pay 8% interest compounded monthly. Which of the following is closest to the EAR charged by the bank? O A. 16.6% O B. 9.96% O C. 6.64% O D. 8.3%

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