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A credit card offers financing at an APR of 22.5 percent, with monthly compounding on outstanding charges. What is the effective annual rate (EAR)? (Round

A credit card offers financing at an APR of 22.5 percent, with monthly compounding on outstanding charges. What is the effective annual rate (EAR)? (Round answer to 2 decimal places, e.g. 52.75%) Effective annual rate

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