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A bank pays interest semiannually with an EAR of 16%. What is the corresponding APR applicable semiannually? Group of answer choices 15.41% 10.71% 14.06% 7.70%

A bank pays interest semiannually with an EAR of 16%. What is the corresponding APR applicable semiannually?

Group of answer choices

15.41% 10.71% 14.06% 7.70%

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