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A credit card holder pays monthly for a 12 -month loan of PB0,000 at a nominal rate of 0.99%/ month compounded monthly. What is the

A credit card holder pays monthly for a 12 -month loan of PB0,000 at a nominal rate of 0.99%/ month compounded monthly. What is the effective rate? 10.85% 0.99% 11.88% 11.55% 12.55%

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